Bank has taken symbolic possession of my self occupied flat at Mumbai under sec 13(4) of Sarfaesi act in 2008 for alleged dues from my SSI PVT ltd Company of whioch I am director and guarantor to loans. Matter being contested at DRT, Mumbai in OA filed by bank on grounds of no debts dues, misappropriation of deposited amounts, non classification of accounts as NPA before 13(2) notice, flat was not collateral security - it was continous security, etc.
I stopped paying maintainance dues to housing society after symbolic possession in 2008 because I had no source of income after closure of mu manufcturing unit due to actions under sarfaesi act illegally taken by bank. The dues have now piled up to over Rs 16 lakhs (including society repair charges of Rs 9 Lakhs)
Now the registrar of co-op Socities has sent me notice for recovery of maintainance dues under sec 101.What is the legal remedy I can now pursue??
