Recently one of running pharma co has been possessed under sarfaseai act by a reputed private bank as per the dist magistrate court (the factory building and land has mortaged to bank).The bank has served the notice for 60 days and filed the at dist court(the factory land in dist court juridiction) and dist court magistrae appointed the two advocate commissioner to seize the running co.The advocate commisioner has siezed the factory land with stocks and finished goods as where basis and has due for submitting the report at dist court.
the factory has under the custody of bank till 10 days and then the pharma co has approached to DRT and filed appeal for stay and requested for preserve the raw material and finished goods.The DRT court also has appointed one advocate comm to verify the stock and steps to preserve the raw material and finished goods.And the pharama co has appealed for 4 cr damages towards the raw material and finished good.
1) Hw the pharma co can approch to DRT and get the saty?
2) Hw the bank can follow steps to recover the dues?
3) Hw the further legal proceesding will happens from both the sides and judjemeents?
(Im a student and doing project with respect to sarafaseai act.Pls answer your opinions )