Legal Question in Banking Law in India

banking sarfaesi act

is it not compulsory that the amount stated in the 13(2) and 13(4) be the same? i have been issued 13(2) for 75 lacks and 13(4) also for 75lacks. the honorable DRT was pleased to allow my petition in SA as there was irregularty in the account statement and asked the bank to issue fresh notice under 13(4) and accordingly the bank issued 13(4) for 85lacks adding up the interest from the date of NPA. is it not legally wrong to do so? can i approach the court as the cause of action is 13(2) and the amounts are different in 13(2) and the freshly issued 13(4)? please guide me.


Asked on 5/29/09, 8:21 am

3 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: banking sarfaesi act

You may approach the court; interest may not be added after filing of suit without court orders.

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Answered on 5/29/09, 11:41 am
Pranav Desai PD Legal & Associates

Re: banking sarfaesi act

Approach court.

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Answered on 6/02/09, 5:20 am
Vivek Mapara Vivek N. Mapara

Re: banking sarfaesi act

Interest cannot be charged on NPA account, but the same will be accounted to a separate perk account, which the bank can claim. Further if any legal proceedings are filed then bank cannot charge any kind of interest on the account from the date of such legal proceedings.and any such interest charged would be bad in law. Further bank cannot charge any kind of penal interest as its against the public policy.

You can challenge the same before DRT of your jurisdiction. Feel free to contact

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Answered on 5/30/09, 8:13 am


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