SERFAECI ACT

S.D. Singh (Querist) 29 November 2017 This query is : Open
I purchased a property from bank in e-auction. I made full payment in time, but physical possession not provided because possession was with the borrower. The bank taken a letter from me that I agree to take physical possession later on and issued Sale Certificate , omitting the statutory line therein that physical possession has been handed over. Later on borrower got stay from high court for proving Physical possession by bank to me. Please tell me what is the validity or legal status of Sale Certificate. Am I legal owner / title holder of the property as on date. Can I get electric meter transferred in my name on the basis of Sale Certificate . Please advise....

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P. Venu (Expert) 30 November 2017
What is the relevance of getting electric meter transferred when you are not yet in possession..................

SHIRISH PAWAR, 7738990900 (Expert) 30 November 2017
You can make application for electric meter transfer application however borrower may take objection that he got stay from high court.

Guest (Expert) 30 November 2017
Vague question to ask the experts on behalf of the electric company or department!

No cross-connection is found between the legality of purchase in view of the stay by the borrower for the property auctioned by the bank and reason for transfer of electric meter in a disputed property.

Better be clear in your description, what actually is your problem, and for what exactly you want the solution.

Dr J C Vashista (Expert) 30 November 2017
Vague query with irrelevant facts, consult a local lawyer with facts of the case for proper analyses and guidance.

Kumar Doab (Expert) 30 November 2017
'Buyer Beware' applies to property deals.
It shall be appropriate to get proper legal opinion from a very able local senior counsel of unshakable repute and integrity specializing in revenue/property/civil/DRT/SARFAESI Act matters before signing or making payment.
This may cost some FEE but can defend long term interest and hard earned monies.

Kumar Doab (Expert) 30 November 2017
Bank ne apna karza aapke maathha par mar diya hai.

Approach your counsel ASAP.

Kumar Doab (Expert) 30 November 2017
Has your own LOCAL lawyer advised you to get electricity meter and appraised you on some benefit?

GO thru the requisite forms and &C of electricity supply company for your satisfaction.
If you are eligible and can manage in hostile circumstances to get meter in your name and it can fetch some benefit to you then you may consider.

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