Sarfaesi 2002 under property auction

Querist : Anonymous (Querist) 24 February 2023 This query is : Resolved
Can bank sold our property in symbolic possession . New buyers can vacant our residency he has right what we do because we are only residents. Our builder get loan on land but he can't gave loans. Bank has action his property by symbolic possession. We are fear about can new owners are vacant our house ya not..

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kavksatyanarayana (Expert) 24 February 2023
Not a legal issue. Yes. It depends on the new owner's opinion, they may give it to rent or not.

Advocate Bhartesh goyal (Expert) 25 February 2023
You need to file appeal against bank's such action u/sec 17 of Sarfaesi Act and get stay order from DRT.

Dr J C Vashista (Expert) 25 February 2023
Action of financier is valid and legal, which is required to be assailed.
Obtain stay order from jurisdictional DRT / concerned civil court through a local prudent lawyer.

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