Well, I had previously posted that ' A ' had obtained loan from a Bank. He mortgaged sale deed of his land with the Bank but did not give original registered sale deed and gave the Bank only a xerox copy and original registration receipt. Thereafter after few years he sold the land to ' B ' without disclosing the loan/mortgage. The sale deed of ' B ' is registered and all land documents such as 7/12, Index II are in the name of ' B '
If 'A ' defaults in repayments, can the Bank attach the land under the securitisation act ? Now the Bank has brought about an attachment order from the District Magistarte uner the Securitisation Act by giving ' A ' 60 days notice . ' B ' has put in application with the District Magistrate statin that he has legally purchased the said land from ' A ' and sought a Stay Order from the District Magistrate. The position now is that a Stay Order has beeen issued by the DM till further hearings and has also issued notice to the Bank. What are ' A ' s legal remedies now
