Legal Question in Banking Law in India
A notice under section 13(2) of the SARFAESI Act was send to the borrower by registrered post. The said notice was refused to accept by one of the borrowers and the notice returned as refused. Bank did not make publication of the notice in newspaper treating the notice as served and is now proceeding further to take possession. Can refusal to accept the notice be taken as acceptance or is the Bank bound to publish the notice in newspaper.
2 Answers from Attorneys
If it has been refused then it can be assumed to be noticed by the person as it is an intentional act.
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DEVANSH BHARDWAJ
ADVOCATE
LUCKNOW
Refusal is treated as acceptance. but if the borrower could prove that the postal endorsement is wrong, then the failure to publish notice can be a good ground for him to assail the subsequent step under Sec.13(4) before the DRT
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