Sarfaci Act
preet
(Querist) 21 March 2011
This query is : Resolved
I received a notice under sarface act. after a time bank again send me a notice for repayment of loan through register post. i accept it from postman. But the same notice after 2 days of reciving bank paste on the wall of premises. My question is if i recive that notice from postman then bank post it on wall or not?
ESTHERPRIYA
(Expert) 21 March 2011
Kindly check the same notice is posted on wall. It may be from court that possession is going to be taken by bank authorities in this regard.
In case you need any clarification contact us at -
M/s.S&P Law Associates
Law Firm at Chennai
Phone : 044 - 43302424
Cell: 9840729285
Email: sandplawassociates@gmail.com
Website: www.sandplawassociates.com
preet
(Querist) 21 March 2011
Sir its same notice from bank.can i take any action against bank in this regard?
Devajyoti Barman
(Expert) 21 March 2011
No, it is mere irregularity. n stead of dwelling on the irrelevant issue pf service of notice, concentrate on to make presentation of repaying the debt.
RAJU O.F.,
(Expert) 23 March 2011
Send objection/ representation to the bank within 60 days from the date of the notice U/S.13(2, challenging the notice.
Silabhadra Sastry Advocate
(Expert) 23 March 2011
i am agrred with Mr. Raju ,after you received the notice u/s 13(2) Scuritisation Act,you have to reply within 60 days,failing which bank will file execution before the District Magistrate /Colector for attachment and sale of your property.So within 60 days either you settle the dispute or move DRT or High Court for obtaining stay order as we cal this law as a dracunian law.More over if your colateral security is a agricultural land,then bank can not attach it.But my advise is to apply the bank for obe time settlement (OTS),where in bank will healp you.
