13(4) SARFAESI PAPER PUBLICATION

Anandakumar (Querist) 25 September 2009 This query is : Resolved
After taking possession under 13(4) SARFAESI, is it mandatory to publish the same in news paper. If it is mandatory, What is the available recourse for the bank if it is not published?

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Raj Kumar Makkad (Expert) 25 September 2009
bank shall be liable for the consequence if property at any later stage is found under litigation.

Adinath@Avinash Patil (Expert) 25 September 2009
It is duty of bank to publish in news paper.if not published bank is liable for conseqencec.

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