Legal Question in Banking Law in India
FIR Against the Bank
We as Recovery Agents have sealed the property within the provisions of the Act. Can the borrower file an FIR against the Bank?
3 Answers from Attorneys
Re: FIR Against the Bank
If you have been properly authorized as per the Rules under the SARFAESI Act and you have followed the procedure as per the said rules, your taking possession of the premises by putting a lock and seal will not be a criminal offence. But that does not mean the Police cannot register a complaint (FIR) against the Bank from the borrower and they can investigate the same. If you have followed the procedure, no case can be filed by the Police against you or the Bank.
Re: FIR Against the Bank
You have no rights to do such acts against the borrowers.He can file a complaint against you in the local police station and a petition against the bank for not acting as per law.
Re: FIR Against the Bank
Well you question requires further elaboration on the facts i.e whose instruction you sealed the property, what authority you have to seal the property, etc.
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