DRT proceedings

Querist : Anonymous (Querist) 09 January 2011 This query is : Resolved
Fraud by borrower. Borrowed obtained loan by giving fabricated documents, claiming 3rd party’s property as his own. Bank extended loan on default taken possession of 3rd party property. Auction fixed. Interim stay for auctioning a property was dismissed by DRT. But, the main case seeking to return the possession is pending. Subsequently Property auctioned.

1. What is the remedy available for the 3rd party now?
2. What are the powers of the DRT/DRAT to reverse the auction sale?
3. Whether writ is possible to set aside the auction sale?

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bhagwat patil (Expert) 09 January 2011
1.file criminal against borrower and bank.2.auction sale may result nullity.3.yes, but you have to go through proper channel.

DEFENSE ADVOCATE.-firmaction@g (Expert) 09 January 2011
It is surprising that DRT did not stay the auction. Something missing somewhere.

If the third party has clear title , he can still go to DRT for cancellation of aution and further appeal to HC.

Arun Kumar Bhagat (Expert) 09 January 2011
I agree with Sashikumarji.

Querist : Anonymous (Querist) 09 January 2011
Mr.Parthasarathy Can you please help me by giving more suggestions.

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