Sarfaesi act sale process
AJEET KUMAR
(Querist) 12 May 2014
This query is : Resolved
purchased property though auction under sarfaesi before 2 yrs. i never tried to get sale certificate. is it anytimebound to get the same certificate? and also tell me if i was a highest bidder in the auction process then secured creditor or authorized officer is bound to issue sale certificate. if no sale cerificate will be issued then what i will do. may i claim my money deposited in auction process?
P. Venu
(Expert) 13 May 2014
The conditions in the Auction Notice would answer your query.
Satya nand aggarwal
(Expert) 13 May 2014
Mr ajit Kumar
Once you paid the whole amount of auction, the bank is bound to give you the sale certificate. It is better to obtain the information from the bank under the RTI act about the reason of not issuing the sale certificate. Thereafter you can choose others methods like filing of suit against the bank for this purpose.
Sankaranarayanan
(Expert) 13 May 2014
It is your duty to collect all documents related to it. Meet the concern authority first
Rajendra K Goyal
(Expert) 13 May 2014
Meet the concerned authority to collect the certificate, if Bank does not give, send legal notice.
Biswanath Roy
(Expert) 13 May 2014
Once the Bank accepted full valuable consideration of the property under auction they are duty bound to issue sale certificate in your favour and legally you can claim it.
K.K.Ganguly
(Expert) 13 May 2014
1. Hope you were declarede as the successful bidder,
2. Once the Bank has received the entire bid amount from you on time, then it is the duty of the A.O. of the Bank to issue the Sale Certificate in your favour,
3. Send a legal notice to the Bank & lodge complaint to the Bank's Ombudsman in this regard.
T. Kalaiselvan, Advocate
(Expert) 13 May 2014
Well advised by experts, the Officer incharge of the auction proceedings should have endorsed the particulars of the highest bidder which will be available in the bank records, based on which sale certificate can be provided by the bankers, approach the bank first and in case of non-cooperation, you may choose legal action as contemplated in law.
Advocate. Arunagiri
(Expert) 13 May 2014
You have said that Purchased the property through auction how? give more details.
ajay sethi
(Expert) 13 May 2014
agree with experts . bank is bound to issue sale certificate if you are the highest bidder . send legal notice to bank
