SARFARAESI

emveeemvee (Querist) 20 September 2009 This query is : Resolved
Is there provision to have stay order from hi court against possession notice given by the Bank (under sarfaresi act ) with eviction order from CJM court and also for police protection ?riven

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Adinath@Avinash Patil (Expert) 20 September 2009
You can file writ petition in high court against possession notice given by the bank.But before that you must avail all procedure under sarfaresi Act by filing your objection for poossession notice given by authorised authority of bank.riven

Kiran Kumar (Expert) 20 September 2009
i agree with Mr. Patil, first approach the Debt Recovery Tribunal...later there is DRAT also.riven

J. P. Shah (Expert) 20 September 2009
I think only State DRT has jurisdiction to hear appeals against the bank in SARFESAI matters.riven

Raj Kumar Makkad (Expert) 20 September 2009
Agreed with J P Shah. High Court generally dont entertain such matters untill and unless specific provisions existing in special law are not fully exhausted. State DRT has jurisdiction to hear in the appeal matter in the given circumstances.riven

Guest (Expert) 21 September 2009
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATE
MOBILE.09325226691, 09271971251
e.mail.adv.nbsawant@yahoo.co.in
e.mail.nandkumarbs@sify.com

WITH REFERENCE TO POSSESSION NOTICE FROM BANK KINDLY NOTE THAT.
1.REGARDING THE LOANS ARREARS ABOVE TEN LAKHS ,BANKS ARE APPROACHING DEBTS RECOVERY TRIBUNAL FOR RECOVERY AND ATTACHMENT AND SALE OF PROPERTY OF THE BORROWERR.
2.EVEN THE AGGRIEVED BORROWER CAN FILE APPEAL TO THE DEBTS RECOVERY TRIBUNAL AGAINST THE NOTICE ISSUED BY BANK FOR ATTACHMENT AND SALE OF MORTGAGED PROPERTY
3.BUT KINDLY NOTE THAT THE STAMP TO BE AFFIXED FOR FILING APPEAL IS VERY HIGH HENCE IT IS EXPENSIVE.
4. KINDLY NOTE THAT NO OTHER CIVIL COURT HAVE JURISDISDICTION TO INTERFERE IN SUCH NOTICES.
5.KINDLY FURTHER NOTE THAT HIGH COURT HAVING JURISDICTION CAN INTERFERE AND GIVE STAY TO SUCH ILLEGAL NOTICES IN EXCEPTIONAL CASES. I HAVE SUCCESSFULLY OBTAINED STAY ON THE ILLEGAL NOTICE SENT BY CHOPDA COOPERATIVE BANK TO PRAKASH S.AGARWAL .DIVISION BENCH OF HIGH COURT OF BOMBAY BENCH AT AURANGABAD HAD GRANTED STAY TO THE SAID ILLEGAL NOTICE ISSUED BY THE BANK FOR ATTACHMENT OF PROPERTY OF THE BORROWER.IN CASE YOU NEED THE EXACT DETAILS KINDLY DO WRITE.
WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS.
THANKING YOU
YOURS SINCERELY
NANDKUMAR B.SAWANT.M.COM.LL.B.(MUMBAI),ADVOCATEriven

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