Auction proceedings under sarfaesi act

1)You can apply in the pending SA and can get all the details of auction.

2) You can also initiate action for cancellation of auction.

THERE ARE SO MANY OTHER ACTIONS BUT IT DEPENDS WHAT IS THE TOTAL AMOUNT INVOLVED. SINCE FROM DRT AND ABOVE LEGAL COSTS ARE HEAVY.

Normally, the property sold under the SARFAESI will be fetching a lesser price when compared to the market price. However, the financial institution cannnot sell the property below the value given by the engineer. The value should have been done by an engineer who has been registered with the Wealth Tax Authority. You can seek for the valuation report and find out whether the engineer is approved by the Wealth Tax Authority. If not, you have a good case of setting aside the sale.