can a caveat be files in judicial magistrate court
Ajay
(Querist) 01 October 2010
This query is : Resolved
can we file a caveat in judicial magistrate court again Bank for opposing of taking possesion of property under sarfesi act 2002.
Devajyoti Barman
(Expert) 02 October 2010
There is no system for filing Caveat in a criminal court.
Kiran Kumar
(Expert) 02 October 2010
no provision for caveat in criminal matters.
the bank must have taken the other necessary steps first prior to taking judicial help for possession.
have you approached DRT to resist the actions of bank?
Parthasarathi Loganathan
(Expert) 02 October 2010
DRT has no role to play as possession action by bank is initiated under the provisions of SARFAESI Act. If Caveat is allowed in a criminal court then it contravene with the spirits of SARFAESI Act which is the only tool available to banks for recovery of NPA and overdue loans.
Advocate. Arunagiri
(Expert) 02 October 2010
You can file caveat only before the Civil Courts. The bank is having all such rights to take possession of the property from the defaulters through legal process. But, before that they have exhaust all the legal formalities in collecting the dues from the borrower. The SARFAESI ACT is benevolent to the financiers.
s.subramanian
(Expert) 02 October 2010
Nobody has understood the query of Mr.Ajay in proper light.It relates to the stage after Sec.13 proceedings under the said Act. Under
SEc.14,the secured creditor is given the right to approach the magistrate for assistance to take possession of the secured assets. That is a proceeding which is purely civil in nature. It is always open to the debtor to file a caveat before the magistrate invoking Order 52 CPC in such proceedings in those proceedings. It is not barred. In Tamilnadu, I was the first person to file such a caveat and fought for its entertainment and succeeded.This is a very peculiar situation in which Sec.148-A and Order 52 of CPC are invoked and applied before criminal courts because of the special provisions contained in the said Act warranting such an execise.
