Court attachment & sarfaesi act
S. Fernandes
(Querist) 26 August 2014
This query is : Resolved
1.I filled a money recovery suit on 18.12.09. against a firm. suit was decreed in my favor on 31.10.10.
2.I filled execution proceedings on12.07.12.
3. April'13 I applied for attachment of property belonging to JD.
4. Bailiff returned report stating that property has been sold on 15.02.10.
5. I reapplied for attachment of same property on grounds that it was sold in fraud of creditors of the firm, hence liable to be attached.
6. Court accepted, and attached the property.
7. subsequent to attachment, two objectors filled objections under Order 21, rule 58. the present transferee and his mortgagee bank.
Mortgagers sale deed shows purchase price as 45 lakhs. Bank has got property valued by government valuer on same date as sale deed to be 4.5 Cr. and given loan of 1 Cr.
I now want to file application before the executing court seeking to prohibit the O.A. of the bank from in anyway interfering with the property under sarfaesi act, this being a fraudulent sale, it is not subject matter for DRT, and sec 17 or 34 of Sarfaesi will not apply? As property bought for fraction of true value, and loan amount is more than double purchase price.
can I file under O39 r/w sec 151 cpc? in adjudication proceedings under O21 R58.??
Please advise, how I can avoid going before DRT?? Please advise,
Thanks,
R.K Nanda
(Expert) 26 August 2014
consult local lawyer.
Rajendra K Goyal
(Expert) 27 August 2014
Consult a local lawyer and show him all the documents.
P. Venu
(Expert) 27 August 2014
Facts stated are confusing.
Biswanath Roy
(Expert) 29 August 2014
WITHOUT GOING THROUGH ALL PAPERS AND DOCUMENTS RELATED TO APPROPRIATE OPINION CANNOT BE GIVEN.
T. Kalaiselvan, Advocate
(Expert) 31 August 2014
Without seeing the relevant papers, only your lawyer will be able to answer your queries in this regard.
