SARFAESI NOTICE

You can Issue Fresh Notice with Correct Schedule and make reference of previous Notice  which was with inocrret  Schedule !

we have received the notice u/s 13(2) of SARFAESI, we want to reply, what contents should be there in generalk & specifical. pl suggest.

dear friend ,

You can Issue Fresh Notice  under the same provisionwith Correct Schedule and make reference of previous Notice  which was with inocrret  Schedule ! give correct & incorrect shedules.

your second option is o.k. since it is a statutory Notice and the demanding amount will be revised as per contract with the defaulter. you have to send fresh notice with revised demand amount and schedule of properties.

Uday it would be better idea to withdraw wrong notice and then issue fresh notice under section 13(2). as under the act 2002, section 13(2) is mandatory requirement, if you dont withdraw that notice and issue fresh notice instead, that will be best ground for stay of bank's action under securitisation before DRT.

I agree with Mr. Sayare.. the 13(2) notice is a crutial action under the SARFAESI Act. if the same is wrong then the whole process is defeated moreover it leaves grounds for the borrower/defaulter to seek remedy against the bank on the grounds of malafide and harassment etc.. So it would be better to withdraw the earlier wrong notice and issue a fresh notice.