To file a case in DRT COIMBATORE against the sarfaesi act taken by bank
1 year ago
I have got business od amount 2500000 on TAMILNADU MERCHANTILE BANK in 2015 and becomes NPA on 2017 bank issued possession notice and sale notice on 2018 which was stayed by DRT madurai by condition of depositing 8lakhs i have fulfilled the condition and in 2019 the case was transferred to DRT coimbatore and disposed in dec 2021and again bank issued sale notice on mar 2022 which was stayed by not to confirm sale by depositing amount 10lakhs it also fullfilled and the case has been disposed on May 2022 by the reason for sale not happened.i
In mean while for past one year we have been approaching bank for OTS but they have not responded because of high property value Now they again issued sale notice.So my question is what are all legal opportunities that I have to safe guard my property which was belongs to my father(after possession date I have paid 19,70000 to bank now they mentioned balance as 27,50000)
You may approach either DRT or High Court for a direction to the concerned Bank to facilitate for talks to arrive it OTS and thus settle your matter.
You can file a case against the bank and make sure you keep all the documents that will needed handy as they will be used as evidence.
For bank loan
Bankruptcy and Debt
Strong Legal Notice--Recovery of amount
Bajaj Fin Overdraft loan default
Unsecured busniess loan default
