Legal Question in Banking Law in India

possession of the auction property

sir i am an auction purchaser under secrutization act 2002 i have been issued a sale confirmation letter and sale certificate by the bank still i am not able to get possession of the property as is in hands of the borrower who has moved DART and requested to set aside the sale proceeding


Asked on 5/19/07, 11:28 am

3 Answers from Attorneys
G. M. Gupta gmguptaandassociates

Re: possession of the auction property

dont worry u will get it soon

dont be impatient

Read more
Answered on 5/25/07, 3:37 pm
J. Radhakrishnan independent Practice

Re: possession of the auction property

You have mispelled the acronym of Debts Recovery Appellate Tribunal as DART. It should be DRAT.

If no stay is granted by DRAT on the delivery of sold property you can call upon the Bank's authorized officer to deliver vacant possession to you and if necessary with the Authorized officer of the Bank seeking the assistance of the Magistrate having jurisdiction over the area to direct the Police to assist the Authorized officer to deliver possession. If on the other hand stay has been granted by the DRAT, you request the Bank to have the stay vacated/and or the appeal dismissed. You may also file a petition to implead yourself in the pending appeal before DRAT and seek appropriate orders to protect your interests.

Read more
Answered on 5/19/07, 11:28 pm

Re: possession of the auction property

you are a bonafide purchaser and hence have right over the property.All documents are required to be looked into to give accurate openion to get out this situation.

Read more
Answered on 5/19/07, 12:31 pm


Related Questions & Answers

More Banking Law questions and answers in India