Legal Question in Banking Law in India
Possesion under sarfesi act
I have bought a land under sarafasi act
docments registerd,two months back ,but
still land lord stays.Who is responsible to
vaccat me or bank but bank says they
failed pettion under collector & rdo.How
long it will take? Next move
2 Answers from Attorneys
Re: Possesion under sarfesi act
It is Bank's responsibility.
Re: Possesion under sarfesi act
It is for the Authorized officer of the Bank or financial institution who sold the property to deliver possession to the purchaser in the auction (vide sub-rule(9) or Rule 9 of the Rules under the SARFAESI Act. He can take the assistance of the chief Metropolitan Magistrate or district Magistrate as the case may be to deliver possession. It is difficult to speculate a precise time frame for the delivery of possession as it depends upon local conditions. If there is inordinate delay, move the High Court to issue a writ of mandamus to the authorized officer to deliver possession at the earliest.
Related Questions & Answers
-
Dd stop payment Sir, 1.Can we request for the stop payment of dd and whether the... Asked 7/06/08, 9:49 am in India Banking Law
-
Cheque dishonoured... Hi, One of my friend had taken Rs. 15,000/- from me which he... Asked 7/05/08, 2:38 pm in India Banking Law
-
EMI Start Date Situation - If term loan account opened on 01-01-2008 and disbursment... Asked 7/05/08, 8:20 am in India Banking Law
-
Cheque bounce Sir, We are a prop. firm in dekhi ,one of our temprary staff has left... Asked 7/05/08, 2:03 am in India Banking Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
