SARFAESI

Harshpal (Querist) 16 October 2010 This query is : Resolved
My bank has not made inventory while taking possession of my movable assets under SARFAESI is it not contravention of the Act. What is my remedy.

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Parthasarathi Loganathan (Expert) 16 October 2010
You can take up with the bank concerned seeking them to furnish the inventory.

Harshpal (Querist) 16 October 2010
I have requested them now they are saying the possession was symbolic & not ready to account for the inventory. Is there any such thing as symbolic possession of movables.

DEFENSE ADVOCATE.-firmaction@g (Expert) 16 October 2010
You have to go to DRT.

Harshpal (Querist) 16 October 2010
More than 45 days have passed after the bank took the possession. I can not go to DRT as it is time barred.

Uma parameswaran (Expert) 16 October 2010
show the reason for delay to the Tribunal.

RAVI B SHAH (Expert) 18 October 2010
If your reson for delay is acceptable DRT will admit yor case.

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