Bank stick a possession notice outside my property

Sarfaesi action alogwith suit for recovery 

You have not given the details, whether you have filed the suit in DRT or the Bank has filed the suit for recovery.If the bank has filed recovery suit , then the Bank has every right to move under Sarfaesi Act.Please note there is no interim injunction against the secured creditor / bank.

Try for stay of Sarfaesi Action in DRT , otherwise the bank will proceed further in getting the physical possession and then selling the property through auction sale by giving the desired notice in the newspaper.

Bank has filed the suit for recovery of the education loan in DRT since febuary 2013 , the case is still in DRT and bank and initated this sarfraesi measures in may 2013 without any desicion from DRT. what should be my next step as i am very worried about the property . Its a residential property.

Regards

The action of the bank is  legal and the purpose of the Sarfaesi Act is Speedy recovery without the intervention of the court. Your next step should be to save your property from auction sale and that too at a throw away price.The best and the honourable option is to settle /compromise with the bank at a reasonable level.

The action of the bank is  legal and the purpose of the Sarfaesi Act is Speedy recovery without the intervention of the court. Your next step should be to save your property from auction sale and that too at a throw away price.The best and the honourable option is to settle /compromise with the bank at a reasonable level.