NPA propery

Naimesh (Querist) 12 March 2017 This query is : Resolved
One property in NPA position and D.M. Permission for possession. So, what is the process to save property?

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Dr J C Vashista (Expert) 13 March 2017
Vague query.

R.K Nanda (Expert) 13 March 2017
take stay order from DRT.

Madhava Rao Gorrepati (Expert) 13 March 2017
once the loan account is declared as Non Performing Asset in bank records, the SARFAESI Act comes into play. and once possession is taken by the FI you have to pay the balance money or pay some money to the satisfaction of the Bank and then revive the transaction. After sale you may have some rights if the sale is not in accordance with law or improper.