BANK NPA
Vinesh K Chhaya
(Querist) 27 June 2011
This query is : Resolved
WE HAVE PURCHASED A ATTACHED PROPERTY FROM MULTI STATE SCHEDULED BANK IN GUJARAT THROUGH TENDER SYSTEM. THE ORDER OF REGISTRAR OF NOMINEES HELD THAT THE PROPERTY TAX OF MUNICIPALITY WILL BE PAID BY THE BANK... BANK HAD NOT OBEY THAT ORDER SO DISPUTE WAS STARTED BETWEEN US AND THE BANK HAVE FILED ARBITRATION DISPUTE AGAINST US IN THE RAGISTRAR OF BOARD OF NOMIEES COURT SO THAT DISPUTE IS CONTINUE. AFTER THE INTERIM ORDER OF NOMINEE COURT THAT WE WERE DEPOSITED MONEY BUT AFTER FEBRUARY 2011 WE HAVE NOT CONTINUE TO DEPOSIT DUE AMOUNT BECAUSE NOMINEE COURT GIVEN DATE OF 8TH JULY 2011 BECAUSE OF TRANSFER OF THE JUDGE OF NOMINEE COURT. DURING THIS DURATION THE BANK HAVE SENT THE NOTICE OF 13(2) UNDER SARFACEA ACT THAT THEY HAVE CONSIDER OUR ACCOUNT AS NPA SINCE 31 MAY 2011 SO WHEN THE BANK LODGED ARBITRATION DISPUTE IN NOMINEE COURT ON ACCOUNT OF NPA THEN THE ANOTHER NPA THROUGH SECURETISATION ACT IS POSSIBLE?
I WANT TO KNOW THAT 2 NPA ON ONE ACCOUNT IS POSSIBLE ? IF YES THEN IN WHICH SITUATION?
prabhakar singh
(Expert) 28 June 2011
on facts mentioned by you ''no'' is my ans.
s13(6)reads ''Any transfer of secured asset after taking possession thereof or take over of management under
sub-section (4), by the secured creditor or by the manager on behalf of the secured creditor shall vest in the
transferee all rights in, or in relation to, the secured asset transferred as if the transfer had been made by the
owner of such secured asset. ''
