Reply to Sarfaesi 13(2) notice AND APPLICATION TO HIGH COURT
shashan
(Querist) 12 May 2010
This query is : Resolved
bank has issued 13 (2) notice and i have given a reply within 60 days through spped post. the bank has failed to reply the said representations for a period of 1 month. i was advised that we should move high court for stay & declaration of 13 2 as bad in law. and also that the bank cannot take action of 13 (4) till pendency of the suit. the matter is pending till date. the copy of the petition has been served to the bank.
can the bank issue 13 4 till pendency of the case ? further more the 13 2 notice is defective as there is an agricultural land mentioned as security in the said notice? the value of securities also mentioned is wrong and inflated? overall it is seen that the bank has flouted all norms what should i do?
further more i would like to state that the bank has given us a written sale permission to liqudate the outstanding by selling the mortgaged properties prior to issuance of 13(2) notice and also prior to declaration of the account as NPA. we have taken initiative in selling through advertisements. the bank has though not cancelled nor withdrawn the sale permission letter and issue 13 2 notice.
the bank had between 60 days of the notice of 13 2 issued a fresh demand notice for a period of 30 days to pay the dues or they would publish names in the leading newspaper. please help?
Devajyoti Barman
(Expert) 12 May 2010
You seem to have appropriate step by challenging the 13(2)notice though I believe the challenge should have been made before the DRT as the High Court's power has been excluded by the Act. Be that as it may once it is filed try to obtain stay order as soon as possible. That apart as the Bank is only concerned with its money even if you sale the mortgaged property and liquidate the amount borrowed there should not arise any problem.
shashan
(Querist) 13 May 2010
thank you for your reply but tell me whether we can go to DRT now and challenge the 13(2) notice till the pendency of he case. but i believe that DRT is applicable only after the 13(4) notice.
what should i do now?
