Legal Question in Banking Law in India

For sale of immovable property under private treaty of SARFAESI Act , a consent letter is required from ...? whether it is from borrower or from mortgagor/owner of property. In case the borrower is to be involved in consent letter then what is the remedy if borrower refuse to give his consent.


Asked on 6/25/15, 5:44 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

24.06.2015

Dear Sir / Madam,

No consent is required for sale of confiscated immoveable property as per the SARFAESI Act.

Regards,

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Answered on 6/25/15, 6:04 am
J. Radhakrishnan independent Practice

If the mortgor who is obviously the guarantor gives his consent for the sale of his property by the secured creditor, by private treaty, no cosent of the borrowerr is necessary.

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Answered on 6/27/15, 8:20 pm


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