Legal Question in Banking Law in India
We would like to know the procedure to be adopted by the Advocate commissioner appointed by CMM court u/s 14 of SARFAESI Act while taking possession of the secured property.
Asked on 6/30/13, 7:26 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
30.06.2013
Dear Sir / Madam,
The Chief Metropolitan Magistrate who appoints the Advocate Commissioner reports to the Attorney General of India. He / she has to serve the notice, visit the property, and make a detailed note of the property in question.
Regards,
Answered on 6/30/13, 7:59 am
Yash Kumar
Yash Kumar & Co.
Dear Sir,
The person so appointed will take the notional possession of the premises in the presence of the Local Police and submit his report to the CMM.
Thanks
Answered on 6/30/13, 11:15 am
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