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N.K.Assumi (Advocate)     01 June 2010

SARFAESI Act and Limitation act?

Can the financial Institutions enforce security interest of the barrowers whcih is hit by the Limitation Act? 



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 2 Replies

Dinkar Vidyarthi (Advocate)     02 June 2010

Dear Sir,

             I think that Law of Limitation is a portion prima facie considerable by the judge and advocates in any proceeding in court. it has a most important feature and based on so many maxims like law help those who are vigilant and not make pillow of their rights( Legal) to Sleep.

so after issuing a notice under sec 13 SARFAESI Act, if any bank of financial institution does not go for proper relief from authority with in time then definately you have a right to get quashed the same and oppose any condonation of delay application for such delay.

Regards

SANJEEV SRIVASTAVA (LAWYER)     22 July 2010

Dear SKJ

I think plea of limitation should be taken at first stage otherwise you'll loose the limitation plea therefater in appeal. 


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