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sarfasi act and specific relief act

practising advocate

hello Sir, Builder has cobnstructed building in 1999 and sold to various purchaser in 1999 who later on form cooperative housing society. he has also approved basement of the said building with the munacipality for parking. however before society of flat purchaser could be formed he has sold the basement space to other group of person in 2000 and this leads to dispute bebetween the society of flat purchasers and group of basement space purchasers. now the basement purchaser has also made an attempt to construct shops in the basement in 2001 however they all were demolished by munacipality at the complaint of housing society in 2006 as the same was reserved for parking. so ultimately group of basement space purchaser has looked the entrance of the basement. Now the climax, the bank has given loan of Rs. 5 crore to the builder on the alleged basement Shops in 2007  and when in 2014 builder defaulted issued SARFASI notice and has taken symbolic possession and therefore the group of basement purchaser given notice to the bank stating that they are the purchaser and are in possesion and not builder and also given public notice of same fact. That bank never joined the basement group or society in drt. and given false affidavit that no third party is in possession on oath and got execution order. that the basement purchaser has well in advance has intimated the executing officer that thtere is no shop and it is open basement reserved for parking however then too it was executed. can i file S.6 suit for restoration of possession ?

 

 
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Advocate Ex senior manager law

SRFAESI Act is a code in itself. You should file an application under Sec 17 of the act before the Debt RecoveryTribunal. The late st ammendment notified on Nov 4, 2016 empowers the Tribunal to restore possessionof the thired party if its objectio is upheld by the Tribunal. Since you yourself are an practising Advocate i think this information is sufficient to proceed in the matter.


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