Sarfesi

You are suppose to revert to this letter and make arrangement to clear outstanding due to the bank, within 60 days from the date of receipt of this letter. Failing which the bank has all the authority to seize and auction the property.under sec 13 (4)

Reply to the Notice within 60 days. Raise all the valid legal defences. Question the NPA classification. Send a copy of the reply to the CEO/GM of the Bank. 

If it is a manufacturing unit - raise counter claim and inform the Bank not to take coercive action as there is no debt due.

Await the Notice u/s 13(4). Immediately after receipt of the Notice file SA in DRT

Please go through the section 13{4} of the act and thereafter section 17 of the act....

you have remedy to file securitisation application before Debt recovery tribunal...