how to reply of 13(2) notice under SARFAESI act

The bank only can decide about the quantum of amount in one time settlement or restructuring the loan based on their discretion. 

If you have received notice under sarfaesi act, you may approach a local advocate and issue a legal notice denying their claim. 

Either get the dispute settled with the Bank or seek professional services of a local lawyer practicing in DRT / DRAT.

You are welcome. 

Under the SARFAESI Act, responding to a notice under Section 13(2) is crucial. Firstly, communicate with the bank explaining the financial crisis preventing fixed EMI payments and propose a revised payment plan. The restructuring of loans to reduce EMIs is typically handled by the bank itself. However, negotiating directly with the Debt Recovery Tribunal (DRT) for waiver of extra charges beyond EMIs might be possible under Section 19 of the Act. This section allows borrowers to appeal against unfair practices or additional charges.

Regarding the one-time settlement (OTS), there's no fixed minimum amount stipulated in the Act. It often depends on negotiations between the borrower and the bank. Offering an amount closer to the principal loan amount while considering interest and legitimate charges accrued could be a starting point for negotiations.

Legal precedents emphasize the importance of reasonable and fair dealings between banks and borrowers.Courts have often encouraged settlements that are mutually beneficial, considering both parties' interests.

Dear  Kishore Ji 

The fee payable as per Rule 7 of the Debts Recovery Tribunal (Procedure) Rules, 1993 is Rs.12,000/- where an amount of debt due is Rs.10.00 lakhs, Rs.12,000 plus Rs.1000 for every one lakh of debt due or part thereof in excess of Rs.10.00 lakhs subject to a maximum of Rs.1,50,000/- where an amount of debt due is above Rs.10.00 lakhs..  If you have  any other query , inform us 

Sanjeev Duggal  Advovate 

Very well explained and advised by learned expert Mr. Sanjeev Duggal, I agree and appreciate his acumen.

However, at this stage of a suit (already pending before DRT) the Bank has already paid Court fees and beina defendant you need not pay any court fees for OTS or restructuring EMI, if so.

Dear Sir thank your for this post . i earlier received notice for my 4 home loam emi stuck. and not getting any idea about how to this tackle.