vikash (SPECIAL CORRES) 02 July 2024

Arbitrator

The property was attached by arbitrator for finance company . Now Arbitrator has given release order for attachment of property. But yet finance company has not approached SRO for release of property. What can we do to get attachment of property released and Ecumberance Certificate get updated.

Thanks in Advance.

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3 Replies

T. Kalaiselvan, Advocate (Advocate) 02 July 2024

The finance company has to register the no due certificate release of the attached property before the concerned SRO in favor of the borrower if it is a case of borrower and lender after which this entry will reflect in the encumbrance certificate.