Npa - megistrate ordered to seal property
manish
(Querist) 02 July 2012
This query is : Resolved
i got notice that megistrate ordered to seal my residential flat which was considered npa but now i want to pay all dues what to do
go to drt ? (debt recovery tribunal)
or if i send cheque whether they stop sealling process of my property?
please answer me..
thank you in advance
Rajeev Kumar
(Expert) 02 July 2012
First of all you should make a prayer to the court where the order is passed that you are ready to pay all dues within a stipulated time and the sealing process be stop. After the paying of all dues get the NOC. If the sealing order is passed by DRT then go there and make prayer as mentioned above.
manish
(Querist) 02 July 2012
order is passed by district megistrate not drt so whether i go to district megistrate or drt??
R.K Nanda
(Expert) 02 July 2012
Go to DM and file application for the cancellation of sealing order of ur house
and inform DM that ur ready to pay the dues.
manish
(Querist) 03 July 2012
thank you very much for your replies.....
second thing is
they are not ready to give me details about what interest percentage and calculation
i ready to pay but want to know what calculation becoz they charged too higher as per me
what to do about this??
R.K Nanda
(Expert) 03 July 2012
U r welcome.
Either talk to bank officials or pray to DRT
to waive the interest or charge it at simple rate.
K.K.Ganguly
(Expert) 03 July 2012
You have got DM's Order for sealing the property or the property has been taken possession of by the Bank with the help of Police as per DM's order u/s 14 of SARFAESI ACT,2002 after which they have taken possession of the property & have sealed it?
Before the Bank took possession through DM, u/s14 of the Act, certainly they had issued to you Demand Notice u/s 13(2) & Possession Notice 13(4) of the Act and also published the Possession Notice u/s 13(4) in local news paper as specified in the Act.
You were supposed to apply before the DRT only within 45 days after receiving the Possession Notice u/s 13(4) for a stay since no details of accounts were furnished with the Demand Notice u/s 13(2) which is required as per the Act. You have missed the chance.
Now, the Bank will publish Sale Notice for selling the property to realise their outstanding sending copy of the Sale Notice to you. If you want to pay off your dues, write to the Bank immediately asking them to stop publishing the Sale Notice since you want to pay & ask for details of accounts.
Contact a local lawyer who practices at DRT. Never make the mistake of going to Civil Court for remedy since Civil Court has no jurisdiction over SARFAESI proceedings as mentioned in section 34 of the Act. It will be wastage of money.
malipeddi jaggarao
(Expert) 04 July 2012
I advise you to go to the Bank and give in writing to them that you are willing to pay the entire dues. Ask them the rate of interest that they have applied. Normally will be happy to receive the entire proceeds in NPA account. Both you and the Bank can file a joint satisfaction memo before the court which issued the order stating that you have paid all the dues hence the order may be treated redundant. If the Bank is co-operating to receive the entire dues for whatever reasons, you can file an application in DRT as advised by Mr.Ganguly above.
