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Rahul shah (Ca)     20 February 2025

Sarfesi - action against bank as auction purchaser

We purchased property in auction which was under symbolic possession in september 2024.

Bank received possession on 3rd feb 2025.

Bank is delaying the possession to us and also not handing over documents.bank is delaying because the assessing officer asked us for additional payment(he requested us on email to pay the amount which the bank incurred for obtaining physical possession )we refused because it is not in our scope.as we complained to higher ups officer agreed to give possession but he is delaying.emails and phones are not answered.the branch is in different city.we are assuming this can stretch to more 10-15 days.

We have paid close to 90 lakhs in september 2024

What are remedies available to us to claim compensation.

I read that we cannot go to consumer court as auction purchaser is not a consumer.

I also ready that sarfesi matters are not entertained in civil courts.

If we go on drt ; what would be the fees ?

 

 



 4 Replies

Dr. J C Vashista (Advocate )     21 February 2025

Of course it is not a consumer complaint case.

Court fees shall have to be paid before filing case in concerned DRT / DRAT, which is to be calculated as per amount of the suit / appeal.

T. Kalaiselvan, Advocate (Advocate)     21 February 2025

You first issue a legal notice to the concerned Bank manager demanding the possession of the property immediately within a time stipulated therein.

You can endorse a copy of the legal notice to the higher authority of the bank and also to the banking ombudsman.

You can mention that if the bank is not responding you will be constrained to initiate legal proceedings and the Bank will be liable for costs and consequences thereon.

Rahul shah (Ca)     21 February 2025

My question is what are the options for us other than drt

And can we directly claim compensation in legal notice and at what percentage interest?

Other than interest what can we claim more ?

T. Kalaiselvan, Advocate (Advocate)     21 February 2025

You have not been handed over possession yet, hence first get possession and then plan for other reliefs if you are eligible.


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