Hi sir,
I am banker. We have issued
Demand Notice u/s 13(2) for two properties mortgaged to our Bank. For one property , the Sale deed has been cancelled by Registrar. So, possession notice is not possible for first property.
Second property is perfect. whether we can proceed for possession notice u/s 13(4) for taking symbolic possession of 2nd property without issuing fresh Demand Notice u/s 13(2).
The legislature having conferred power on the debts recovery tribunal to decide as to whether measure (s) taken by the secured creditor in terms of section 13(4) of the act is/are in accordance with the provisions of the act or not, that would involve a determination as to whether there has been default on the part of the borrower to repay the secured debt or not.
