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gaurav (student)     27 April 2010

CAN 2ND &3RD SCHEDULE OF I.T.ACT BE APPLIED IN SARFAESI ACT?

HELLO SIR,

IN THE DRT COURT I WAS TOLD BY THE HONOURARY COURT THAT SINCE THERE IS NO PROVISION REGARDING DEPOSITION OF MONEY BY THE BORROWER THE SECOND SCHEDULE IS APPLICABLE IN SARFAESI PROCEEDINGS ,AS FAR AS I KNOW SECOND AND THIRD SCHEDULE ARE APPLICABLE IN '' THE RECOVERY OF DEBT DUE TO BANKS AND FINANCIAL INSTITUTIONS ACT 1993'' AND NOT IN SARFAESI ACT  PROCEEDINDS . KINDLY ENLIGHEN

I SHALL BE THANKFUL.



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