Nilesh Ghadi (Service) 22 May 2016

Sarfaesi possession

Under SARFAESI Act bank has taken physical possession of the property but after that borrower has broken the seal and enter into the premises and started staying in the flat. Now, I would like to know that

What will be the further consequences of this illegal act done by the borrower..?

Whether bank has to re-apply before the court for taking back their already possessed property..

What procedure will be followed by bank...? Is it a same case will be continue or bank has to file fresh application before the court ?

How long it will take to bank to regain the possession of the porperty..?

Whether said borrower or owner of the porperty will be arrested?

Is is it bailable offense..?

Whether bail will be in court or police can also give a bail..?

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2 Replies

G.L.N. Prasad (Retired employee.) 23 May 2016

The borrower will be treated as a 'Tresspassers' and can be evicted through criminal complaint, and all these steps further complicate the borrower's cause. Let your advocate explain the consequences of such illegal act, and now a days no one knows as to who is behind such encouragement assuring him of other remedies. A common borrower has no such guts to take law into his hands.

T. Kalaiselvan, Advocate (Advocate) 28 May 2016

The borrower has done a blunder mistake by entering into the locked house property breaking it open. It is an act of criminal trespass or even can be termed as burglary.

The bank has to lodge a complaint in this regard with the police who shall get into immediate action to throw the occupier out of the property.

In fact I too feel that the borrower is acting under the assurance of some background antisocial element daring the law of the land in this regard.