Auction notice
somesh
(Querist) 21 March 2014
This query is : Resolved
Dear Expert
I want to know who gives the permission to bank to auction the property of the liable person in navi mumbai and what is the procedure to know whether this permission is granted or not?
The property is mortgaged against NPA CC A/c with bank.
Please let me know
Devajyoti Barman
(Expert) 21 March 2014
Looks like academic query.
If not then give details.
somesh
(Querist) 22 March 2014
Dear Experts
its not an academic query, bank has performed the symbolic possession in oct 13 of the properties and willing to auction it.
therefore i want to know the procedure from where the bankers needs to obtain permission to sale the properties and within what time permission is granted and when they will auction the properties.
I have to plan accordingly.
thanks
Rajendra K Goyal
(Expert) 22 March 2014
Bank can proceed as per provisions of SARFAESI Act.
Devajyoti Barman
(Expert) 22 March 2014
File an application before the DRT u/s 17 of the SARFAESI Act and prya for injunction against sale.
T. Kalaiselvan, Advocate
(Expert) 24 March 2014
Bankers can always initiate action as envisaged in the SARFAESI Act with regard to the NPA for recovery. You may file an application before DRT within the pecuniary jurisdiction for necessary relief, contact a local lawyer specialised in such cases.
T. Kalaiselvan, Advocate
(Expert) 25 March 2014
Bank initiate action as per the provisions of the SARFAESI Act, if at all you have anything against it, you may approach the DRT in your jurisdiction for necessary relief under the provisions of same act.
