Criminal Trident Pack: IPC, CrPC and IEA by Sr. Adv. G.S Shukla and Adv. Raghav Arora
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Naga Harsha (None)     20 May 2011

SARFAESI and Cealing Act

Can a plot under the Cealing Act be sold by the bank under the  SARFAESI act ????

Under what section is this covered?



Learning

 2 Replies

Satya Narayana Palukuru (Advocates & Mediators.)     20 May 2011

If the mortgager having valid title the bank can sell the property. The property should be free

from defects and then only the banker also get a buyer.

RAJU O.F., (Advocate)     22 May 2011

If property other than agricultural property is mortgaged to the bank/FI and if defaulted for more than 90 days, bank can invoke SARFAESI Act and sell the property by auction sale.


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