Legal Question in Banking Law in

Bank has taken symbolic possession today u/s 13 (4) ofSarfaesi Act and they threating to take physical possession we want to go in DRT u/s 17 can they take physical possession and throw out from the property we had given in writing to bank that we want to go to DRt and they wrote on our letter " There is no such Provision of granting time under Sarfaesi Act which please may note " what to do as they say to take physical possesion tomorrow morning forcebly with externa agency


Asked on 8/25/10, 6:43 am

3 Answers from Attorneys
J. Radhakrishnan independent Practice

Immediately file application under Sec.17 of the Act to DRT and get stay. Otherwise, the bank can take physical possession not by force but by getting orders from Magistrate Court.

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Answered on 8/25/10, 7:36 am
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

you may do as advised by Mr. Krishnan

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Answered on 8/25/10, 9:56 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Even if they take physical possession, you are entitled to seek re-possession from the DRT by filing an appeal u/s 17.

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Answered on 8/28/10, 1:50 am


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