Bank auction of lands

revant (Querist) 11 January 2013 This query is : Resolved
Decision is pending on borrowers appeal before DRT regarding possession & proclamation of sale as well as under valuation of property by the Bank-- (of agri as well Industrial N.A. land)- can the Bank later declare auction of only N.A land pending decision of the DRT on the borrowers appeal, without releasing agri land to borrower or fresh notice to the borrowers.

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RAJU O.F., (Expert) 12 January 2013
As the matter is pending before DRT, bank can withdraw the Possession Notice and Sale proclamation, with the permission of DRT and issue afresh Notices for NA land.

Raj Kumar Makkad (Expert) 12 January 2013
In the given case, the bank has performed illegal action so the borrower should obtain stay order from the DRT.

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