filing case in dtr

Querist : Anonymous (Querist) 27 October 2010 This query is : Resolved
the bank has taken our companys all immovable assets under its possession under the absence of company director or any authorized person.They also published the possession notice in the local news paper today. I am thinking to lodge a case against bank for the same. i have attached some of the facts which according to my belief will strengthen mine case at DRT. I havent filed the case so far.

i request u all to please once go through mine facts and suggest me with your advises.

Thanking you.

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adv. rajeev ( rajoo ) (Expert) 27 October 2010
There is paper publication regarding taking the possession of the property, but your co., kept quiet, but there is no wrong take legal steps against the bank .

Devajyoti Barman (Expert) 27 October 2010
Has the Bank has given any seizure list? Do remember that every king of irregularities by the bank officials would not be equivalent to contravention of law.

Querist : Anonymous (Querist) 27 October 2010
@Mr.Barman Sir,

They have taken possesion of every collateral security under them, exept the residential house in which our family is presently residing. I talked to my branch manager to give us 2-3 months time so that if possible i could arrange some fund & run the industry or would sell it myself..he in turn said that he may recomend the same to the zonal office. but nothing is in his hand..i doubt if the bank just passes time on paper than my chance to file case in drt will also go from my hand. what accordind to you should i do

Querist : Anonymous (Querist) 27 October 2010
mine honourable experts please suggest me so that i could take actions regarding the same.

bhagwat patil (Expert) 27 October 2010
Bank cannot take physical possesssion like that bank can take only symbolic possession as per SC Ruling. in is clear contempt of court file the case. contact 09422773303

Devajyoti Barman (Expert) 27 October 2010
For movable property the bank can take physical possession. Only for immovable property the bank initially tales symbolic possession.

Devajyoti Barman (Expert) 27 October 2010
If you could give the case details they may be some more advice could be given,

s.subramanian (Expert) 29 October 2010
Bank has the lawful authority under the SARFAESI Act to take possession. If you are aggrieved,you can approach the DRT under Sec.17 of the SARFESI ACT for relief. There is not much that can be done in the matter without your repaying the loan dues.

Querist : Anonymous (Querist) 31 October 2010
@Barman sir: case details are there in the facts file attached with the query.

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