1. The bank has obtained orders under O.A. against the client.
2. Bank applied for recovery certificate from DRT recovery officer & obtained.
3. The bank took the physical possession of property for auction by recovery officer.
4. All of a sudden, bank advertised for auction under rule 8(6) although the client's stay petition is filed in DRT challenging fresh sarfeasi notice issued by bank. Appeal is pending in DRT court.
QUERY: Can bank proceed in two parallel methods of auctioning. One already applying for sale through DRC & also at the same time through SARFEASI under rule 8(6)?
Pls quote any highcourt or supreme court ruling in above query for our clarification and reference. Thanks
