Ways to Stop/postpone/hold the possession u/s 13(4)?

No of things are possible.

Dear Siva,

The appeal under section 17 before the DRT is applicable only after possession. So it is not possible to get a stay before the 13(4).

For stalling attachment please prick holes in the story of the bank., and ,initiate counter offenseive actions.

Dear Mr. Shashi Kumar Ji & Uday Ji,

Thanks a lot for your post.

I understand that the Bankers should initiate the symbolic possession first by giving a period of 45 days and later, they will take physical possession u/s 13(4) if the borrower does not take any action on these 45 days time.

Is that been possible for a banker or lender to take action u/s 13(4) without serving a symbolic possession notice? The bank has sent only a letter mentioning that they would enact sec.13 (4) if the amount is not paid on the said time but never sent any symbolic or physical possession notices. So, the letter itself to be treated as Notice or is there any specific format / procedure to issue notices. If so, what would be the format/procedure for a symbolic possession notice? Will the banker must affix the symbolic possession notice on the mortgaged property and publish in the dailies? Or, will they send only a letter to the borrower?

And, Pls let me know are the bankers are liable to get the interest amount from the borrower once the account is declared as NPA or the account to be freeze from that time the account was declared as NPA?

Also, if we are approaching the DRT after symbolic possession, are the borrowers liable to pay their interest amount to banker? Or, will the borrower have to pay only the outstanding amount (principal cum interest amount) calculated before filing u/s 13(4)? And, where the borrowers have to pay the outstanding amt, whether in the bank or in the court, directly? Also, how long will be duration that the borrower gets from DRT or Court to pay the outstanding amount? Pls advise..!

I have replied to similar querry .

1) Interest will run till last ruppee is collected.

2) You can file counter claim against the lender but your story must be plausible.

3) No relief possible from DRT.

4) Yes if you can reply the notice of the lender intelligently and the lender is not able to reply / contradict within seven days than you can ask for termination of notice.

The lender will have to issue fresh notice and same drill will go all over again.

Hi,

Thanks all for your replies.

Suppose, if the borrower agreed to pay-back the entire loan amount within a period of 3 months by explaining the genuine reasons for non-payment and where the bank does not agreed to grant any more time to the borrower or refused to accept his request by replying to the borrower that they had given enough more time, so now, at this juncture, can the borrower approach the DRT to grant him the said time for the closure of the loan account or at least, to regularize the loan acct.?