Notice under sarfaesi act
Querist :
Anonymous
(Querist) 04 June 2022
This query is : Resolved
Hello respected experts,
I purchased a flat in the year 2018 from a builder company having proper right title interest over the same. In the year 2020, we got to know that the company had taken loan from Reliance for the project and due to non payment, reliance has filed insolvency proceedings against the company which is still pending. Recently , the ICICI BANK person has affixed a notice under section 13(2) of Sarfaesi Act in front of our flat from which we got to know that d company had executed a regd AGREEMENT FOR SALE in favour of d wife of the managing director of the company in the year 2016 and on the basis of that agreement she obtained loan of rs.50 lacs from the bank. In that loan her husband the MD of the company became Guarantor in his personal capacity. Thereafter no sale documents was executed in her favour. Now since last few months she did not pay the emi and accordingly the bank has issued notice. It is to be noted here that neither the said wife of the MD nor the company nor the Bank filed any claim before the NCLT in the insolvency proceedings regarding my flat. Technically, the loan applicant is not the owner as no deed of sale was executed in her favour in respect of the flat and her husband, (the MD of the company) became Guarantor in his personal capacity and he has no right over the flat personally. So my query is is there anything due to which I should be afraid of? Now what should I do? I am thinking of giving reply to the notice stating all facts. But if the bank does not reply, what is my remedy? Can I directly go to the DRT and pray for stay against the notice or what other remedies are available to me kindly suggest. I shall be indebted to you for the advice.
Thanking u.
P. Venu
(Expert) 05 June 2022
Instances, as stated are common. You may not be the only person affected. Take a joint stand and approach the RERA or the consumer forum.
