Ours is a nationalised finance company.we granted a commercial loan in 1993 for constructing a shopping complex @18% interest compounding halfyearly.customer executed necessary mortgage deed and deposited title deeds with us.He never cared to repay a single instalment of loan.term of loan was 15 years.In 2001 we filed a civil suit for the recovery of money .But till 2014 this case never came up for hearing.
IN 2014 We started procedure for taking posession of property under SARFAESI act and 13(2) notice.after that we got an order from local civil court for taking posession of the property.But customer approached HC and obtained a stay by arguing limitation.Now we have to get the stay vacated. How we can proceed?
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