Kiran Kumar D.V (Dir) 02 February 2012

Possession notice

DEAR SIR, I HAVE RECEIVED A POSSESSION NOTICE FROM THE BANK, BUT THEY HAVE NOT PHYSICALLY TAKEN THE POSTION, THEY HAVE JUST PASTED THE POSSESSION NOTICE ON THE WALL OF MY BUILDING AND WENT. SO NOW HOW CAN TAKE A STAY ON THIS AND FOR HOW LONG MAXIMUM CAN I TAKE A STAY. I AM BANKING WITH THIS BANK SINCE 1985 AND NOW WE ARE FINDING THAT THE INTEREST RATES CHARGED IN THE CASH CREDIT ACCOUNT IS IN EXCESS TO THE SANCTIONS AND I AM FINDING LOT OF DIFFERENCES. I HAD STATEMENTS FROM 2003 TILL AS ON DATE AND STATEMENTS FROM 1985 AS NOT WITH ME. SO I INFORMED THE BANK THIS MATTER AND ASKED THEM TO PROVIDE ME THE STATEMENTS, SANCTION COPY AND CIRCULARS OF INTEREST RATES, BUT THEY REFUSED TO GIVE ME THE SAME. NOW THE POSSESSION NOTICE HAS COME TO ME, PLEASE INFORM WHAT CAN I DO

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1 Replies

pervez (adviser) 02 February 2012

Dear Mr. Kiran, The answer to your queries would be as under ;

I HAVE RECEIVED A POSSESSION NOTICE FROM THE BANK, BUT THEY HAVE NOT PHYSICALLY TAKEN THE POSTION, THEY HAVE JUST PASTED THE POSSESSION NOTICE ON THE WALL OF MY BUILDING AND WENT. SO NOW HOW CAN TAKE A STAY ON THIS AND FOR HOW LONG MAXIMUM CAN I TAKE A STAY

Reply : After demand notice u/s 13(2) of SARFEAI and expiry of 60 days, the bank has right to, either taken physical possession OR symbolic possession of the assets.. For stay u may have to move an application before. the concerned DRT, challending the action of the bank and by disputing the liabilities..

I INFORMED THE BANK THIS MATTER AND ASKED THEM TO PROVIDE ME THE STATEMENTS, SANCTION COPY AND CIRCULARS OF INTEREST RATES, BUT THEY REFUSED TO GIVE ME THE SAME.

Reply : Seek ceritifed copies of all relevant documents under RTI Act, by paying application fee of Rs. 10/- and Rs. 2 per copy

For detailed reply / remedies, send me a detailed mail giving full facts...

regards