Notice u/s 13(2) of Sarfaesi Act
2 years ago
I recently received a notice for my loan account with a private bank which they dispatched on 13 May and I received it on 25 May.
I received a call from bank person that they will paste notice on my house in 2-3 days.
Can they paste the 13(2) notice before the expiry of 60 days?
Can I take legal action against them in case they paste it? Under what act if you can please specify.
And from what date 60 days are counted?
Anand Bajpai
Responded 2 years ago
A.The Bank can not paste the notice under section 13(2) now as the RBI has issued a circular to not declare any property NPA due to prolonged epidemic COVID-19.
Yes you must approach the BAnk through your lawyer and ensure that they do not do this unlawful act.
Yes you must approach the BAnk through your lawyer and ensure that they do not do this unlawful act.
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Ankur Goel @ Complete Law Shield
Responded 2 years ago
A.What you want ?
only notice should not be pasted and everything else is ok ?
you want to wait 60 days to repay ?
pasting notice or sending notice are same.
only notice should not be pasted and everything else is ok ?
you want to wait 60 days to repay ?
pasting notice or sending notice are same.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
The notification under Section 13(2) of the SARFAESI Act is not merely a show cause notice; it also constitutes the start of recovery proceedings under the provisions of the SARFAESI Act.
If you find this answer helpful, please rate my answer. Thank You.
The notification under Section 13(2) of the SARFAESI Act is not merely a show cause notice; it also constitutes the start of recovery proceedings under the provisions of the SARFAESI Act.
If you find this answer helpful, please rate my answer. Thank You.
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A.Hi,
If symbolic possession is seized before 60 days from the date of the notification specified in section 13(2), all debtors will have to wait until physical possession is taken and/or a sale notice is issued to reclaim their running business after it has been called to an end. This has been the view of SC in Mardia Chemicals Ltd. v. Union of India, (2004) 4 SCC 311 and M/S Hindon Forge Pvt. Ltd. & Anr. V State Of Uttar Pradesh, Civil Appeal No. 10873 Of 2018.
If you find this answer helpful, please rate my answer. Thank You.
If symbolic possession is seized before 60 days from the date of the notification specified in section 13(2), all debtors will have to wait until physical possession is taken and/or a sale notice is issued to reclaim their running business after it has been called to an end. This has been the view of SC in Mardia Chemicals Ltd. v. Union of India, (2004) 4 SCC 311 and M/S Hindon Forge Pvt. Ltd. & Anr. V State Of Uttar Pradesh, Civil Appeal No. 10873 Of 2018.
If you find this answer helpful, please rate my answer. Thank You.
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A.See as per Section 13(2) of the SARFAESI Act a debtor is required to discharge his liability within 60 days from the date of notice. Notice means receiving the notice or pasting the notice and the 60 days are counted of discharge of liability not for coming to paste the notice.
You can take action against them and file a case in DRT.
You can take action against them and file a case in DRT.
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Ankita Jaiswal
Responded 2 years ago
A.Meet local lawyer who's practice in sarfaesi act regarding this, he help u, if u like my ans PlZ rate my ans *****, thanks
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A.Dear Sir
You may approach DRT for staying such illegal activities.
You may approach DRT for staying such illegal activities.
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