an this be considered as deliberate Violation SARFAESI ACT

Find out as to whether the NBFC is included as a 'Financial institution' under Sec.2(m) of the SARFAESI Act. If not included, then the NBFC cannot initiate the SARFAESI proceedings.

If you submitted objections/representations within 60 days from the date of Demand Notice u/S.13(2), then FI has to answer within 7 days.

Unless the bank/FI withdrawn the earlier Demand Notice, fresh Demand not necessary for issue of Possession Notice u/S13(4).

If you are aggrieved approach DRT within 45 days from date of Possession Notice, by preferring Appeal u/S.17 for remedy.

the borrower has very few options with DRT, normally no relief except dates., instead you should invoce civil and criminal law for related actions.

DRT and DRAT can give relief to you, if you present the matter with proper gounds through an advocate who is thorough with DRT and SARFAESI proceedings.

Iam afraid you have not given the real facts...

First you say SARFAESI proceedings...then you saysome order from court of law where you have been set exparte???!!!!

Lets put it this way, if the case was made exparte fraudlently you surely have a very good case to setaside the same. (BTW civil courts do not have the power or jurisdiction to issue orders for possession/sale under SARFAESI Act)

You also said that you had filed objection to 13(2) notice and no reply was received within statutory one week, this itslef a good ground for vitiating the action by the NBFC

May be if you clean up the mess and come abreast with real facts, we could help you you may also PM

." Borrower received the scanned copy (as out of the address) of SARFAESI_Clause13(2) in e-mail BY "DATE2" and replied in mail.
3.Borrower objected by paying 80000/- on "DATE3" under section 13(3A) and NBFC surprsingly accepted against total demand(LOAN CLOSURE) and never replied."

Have you objected in writing?

Have they rejected  your version ?
 

Dear Mr.Rajkumar,

I presume that ex-parte order here refers to a possession order under section 14 of the SARFAESI Act where notice to the borrower is not necessary.

Even the action u/Sec.14 of the SARFAESI Act can be challenged in DRT against the possession taken.

Dear all,

• Please help me to know if the Housing Finance Company name "ABC Home Finance Limited" has been granted (SARFAESI), 2002 as per tNotification No. S.O. 1282(E) (Hindi and English versions) published in Gazette of India.
• This NBFC changed his name under Section 21 and Section 23(1) of the Companies Act 1956 to "DEF Home Finance Limited" once subsquently "GHI Home Finance Limited" next for two time consequtively.
• The NBFC is always HIDING THE FACTS and not coming to DRT at all where as a Petition in High Court Pending.
• From the analysis it is NOWHERE found about the license to invoke (SARFAESI), 2002

Question -:

• 1.Can the new company named "DEF Home Finance Limited" OR "GHI Home Finance Limited" inherit the Power to issue notice under (SARFAESI), 2002 granted to the Company named "ABC Home Finance Limited" ?
• 2.Under what condition the name change will inherit (SARFAESI), 2002 grant of power.

(The Company names have been replaced by default names to avoid reference)

Any HELP ????

Regards
Santosh

Dear all,

Please help me to know if the Housing Finance Company name "ABC Home Finance Limited" has been granted (SARFAESI), 2002 as per tNotification No. S.O. 1282(E) (Hindi and English versions) published in Gazette of India.

==The WebSite of the Company Clearly describes the following in this SEQUENCE==

1. "ABC Home Finance Limited" better known as ABC123 Home Finance Limited following the takeover by "ABC123 Company Limited".
2. Further "ABC123 Company Limited" merged with "DEF Company Limited" ,So the NBFC Changed its name to "DEF Home Finance Limited".
3. This NBFC changed his name to subsquently "GHI Home Finance Limited"
4. This NBFC changed his name under Section 21 and Section 23(1) of the Companies Act 1956.
5. From the facts it is NOT a mere NAME Change at all.
6. The DEF Company Limited is not at all representing itself in DRT.

Question -:

1.Can the company named "DEF Home Finance Limited" inherit the Power to issue notice under (SARFAESI), 2002 granted to the Company named "ABCHome Finance Limited" ?
2.Under what condition the name change will inherit (SARFAESI), 2002 grant of power.

Any HELP ????

Regards
Santosh