Where to file application for action under Sarfaesi 13(4)?
s.loganathan
(Querist) 30 March 2010
This query is : Resolved
I fall within the territorial jurisdiction of DRT Madurai. A lot of lapses and lacuna on the part of Bank as to cause & mandatory procedure. I am being confused by many that I can file my 'application' before the DRT Madurai. An application does not need any deposit. The DRT Madurai website on FAQs clearly states as :
"Under SARFEASI Act, 2002 for actions taken by authorized officer, appeal/application lies with whom?.
For actions taken under sub-section (4) of Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 by the authorised officer, an application shall lies to the Debts Recovery Tribunal - I, Chennai under section 17(1) of that Act."
Please throw some light on this. I have already engaged a person in Madurai to handle this case since I am from Trichy, and he is opined to file it in Madurai. There is a school of thought that holds Madurai DRT to issue stay on deposit of large amount. However, the situation is different in Chennai. My case has merit and the Bank has vitiated on many counts.
Raj Kumar Makkad
(Expert) 30 March 2010
In the light of facts stated in your quarry, I am of the firm opinion to file application in Chennai rather in Madurai and the opinion of your lawyer is accurate in this regard. If you have sufficient material against bank then it shall add colour to your case.
