Sarfaesi noticeu/s 13(2)

wait for 13(4) notice approach DRT take a stay

Dear Sir, Thanks for your early reply. Kindly clarify the query. How much fee i have to pay for stay in DRT, as my O/s balance is 56.00 lakhs. How the calculation is made ?.

Thanks in advance.

SARFAESI ACT of 2002 is a technical act where 

1. Bank should classify the a/c NPA as on 14.07.17 inclusive of interest @ ..% having O/S as on 14.04.17. (When either interest or instalments remain in default for more than 90 days than a/c will be identified as NPA). In instant case, Bank has committed a default and violated RBI directives upon NPA. 

2. You have option to knock the door of applicable DRT u/s 17(1) of SARFAESI Act and you have to pay a fee U/s 13(2) 1.(b) where the applicant is a borrower and the amount of debt due is Rs.10 lacs and above, Rs.5,000/- +Rs.250/- for every Rs.1 lac or part thereof in excess of Rs.10 lac, subject to a maximum of rs.1,00,000/-. There will be some more fee of rs.250/- for seeking stay and other instant relief.   

2-A: whereas Bank may file Original Application U/S 19 of RDDB (DRT) Act 1993 and fee will be paid by Bank.

3. Bank has two options to take sympolic possession U/s 13(4) and/or U/S 14 of SARFAESI act through District Magistrate /CMM in which the property exists and mortgage is created to securer the secured creditor. You may file objections with DM/CMM in advance to contest the same.

Feel free to discuss but with complete facts of the case. No blind comments can be offered.

Thanks Sir.

Originally posted by : surendra prakash agrawal
	SARFAESI ACT of 2002 is a technical act where  1. Bank should classify the a/c NPA as on 14.07.17 inclusive of interest @ ..% having O/S as on 14.04.17. (When either interest or instalments remain in default for more than 90 days than a/c will be identified as NPA). In instant case, Bank has committed a default and violated RBI directives upon NPA.  2. You have option to knock the door of applicable DRT u/s 17(1) of SARFAESI Act and you have to pay a fee U/s 13(2) 1.(b) where the applicant is a borrower and the amount of debt due is Rs.10 lacs and above, Rs.5,000/- +Rs.250/- for every Rs.1 lac or part thereof in excess of Rs.10 lac, subject to a maximum of rs.1,00,000/-. There will be some more fee of rs.250/- for seeking stay and other instant relief.    2-A: whereas Bank may file Original Application U/S 19 of RDDB (DRT) Act 1993 and fee will be paid by Bank. 3. Bank has two options to take sympolic possession U/s 13(4) and/or U/S 14 of SARFAESI act through District Magistrate /CMM in which the property exists and mortgage is created to securer the secured creditor. You may file objections with DM/CMM in advance to contest the same. Feel free to discuss but with complete facts of the case. No blind comments can be offered.

why 14.07.2017 it must be 14.07.2016