SARFAESI ACT

Dharam Veer (Querist) 11 September 2016 This query is : Resolved
Can Sarfaesi action be initiated by a bank even a civil suit is pending since 2010. Bank initiated sarfarsi action in 2012. Is this action valid as per law?

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Devajyoti Barman (Expert) 12 September 2016
Yes, it can do so . SARFAESI ACt is a special statute which prevails upon general law.
There is no legal bar in exploring 2 parallel proceedings.

Guest (Expert) 12 September 2016
rightly said

Dharam Veer (Querist) 12 September 2016
Sir, my specific question is wheather it was valid in the year 2012 also when civil suit was already filed in 2010 and still pending in court.

cherukuri prasad (Expert) 12 September 2016
first of all when the property is with bank and a civil suit was instituted, was the bank alerted about it. If such is the case, bank shall not issue notice under sarfaesi act, if not you suppressed the fact from the bank for which bank is not liable. And bank shall proceed according to sarfaesi act.

cherukuri prasad (Expert) 12 September 2016
section 34 and 35 of sarfaesi act protects banks.

Guest (Expert) 12 September 2016
Mr. Dharam Veer,

Your question is purely of an academic nature. By the way, how you are related to the problem and what will you do if it is intimated that whether action of the bank was valid or not?

Also, what is the opinion of the lawyer, who would have hired for the civil case?

Raj Kumar Makkad (Expert) 15 September 2016
Reply the valid and concerned questions raised by Ld. Dhingra ji before moving ahead.

Rajendra K Goyal (Expert) 21 September 2016
Seems, Author preferred to remain calm on the concerns raised by the expert P.S Dhingra ji.

Guest (Expert) 21 September 2016
Continuous silence of the querist for 8 days over my question proves well that his query was of academic nature.

Rajendra K Goyal (Expert) 23 November 2016
Still silent after two months.

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