About possession notice

Dear querist,

You can challenge the notice before civil court or in drat based on your case. Consult with local advocate.

Regards,

Earlier, a borrower could seek recourse under the Act against measures taken by the bank/financial institution only when steps for actual physical possession of the secured asset were taken by the bank/financial institution. After this decision, the borrower need not wait till the bank/financial institution takes such steps, but may now, under Section 17(1) of the Act, prefer an application to challenge these measures even at the stage of constructive possession by the bank/financial institution.