Sarfesy-act
AMIT MAHANOT
(Querist) 06 October 2014
This query is : Resolved
DEAR SIR,
ON MY MOTHER BANK FIRE A CASE UNDER SARFESI-ACT. THE FILED A CASE IN 2011 AND WE HAVE TAKEN A BUSINESS LOAN ABOUT 15 LAC. IN WHICH WE HAVE PAID APP.7 EMI'S . NOW BANK WON THE CASE. DEMAND US TO PAY ABT. 20 LAC. THE SAYING THAT THEY WILL ATTACH PROPERTY. WHICH IS NAME OF MY MOTHER, WHEN THE CASE IS RUNNIG. AFTER JUDGEMENT WE TRANSFER THIS PROPERTY TO MY YONGER SISTER. SHE IS MARRIED. NOW WHAT HAPPEN. OR HOW CAN I SAFE?
I WANT TO DO SETTLEMENT BUT BANK WILL NEVER WANT SETTLEMENT. THEY WANT 20LAC AND ACTUALLY MONEY OF BANK IS APP. 11.50 LAC WITHOUT ANY INTEREST. PLEASE SUGGEST ME HOW I CAN SAFE FROM DRT AND BANK.
Nadeem Qureshi
(Expert) 06 October 2014
contact a lawyer personally along with the documents. it will be better for best advise.
feel free to call
Anirudh
(Expert) 06 October 2014
For taking business loan, what is the security that you offered to the bank?
Advocate. Arunagiri
(Expert) 06 October 2014
It seems that you have not mortgaged the property, and that property is now transferred to your sister.
If there is no case against that property, you need not worry, the transfer to your sister is very much valid.
H.M.Patnaik
(Expert) 07 October 2014
Dear Querist,
Your posting does not disclose important details of the business loan availed. Hence , it will be proper if you apporach an experienced lawyer specialising in banking matters with relevant documents like case records(i.e. Notices served, defedant's plaint copy, Judgement copy, Particulars of loan availed, bank statement, mortgages registered in favour of bank etc.) for right advice.
Raj Kumar Makkad
(Expert) 08 October 2014
Provide the details related to the matter under discussion so that experts may go minutely therein and accordingly you may get the accurate reply.
