Legal Question in Banking Law in India

we have recived notice from our bankers u/s13(2) of the sarfaesi act 2002 on 22.11.10 now what will be duration of this notice while any action taken by bank because i want 1 more month time to clear my dues towards bank now i want to ask you what is the remidy to the borrower and gaurenters?


Asked on 12/27/10, 3:14 am

1 Answer from Attorneys
J. Radhakrishnan independent Practice

The duration is 60 days from the date of receipt of notice. Better before the expiry of the said time,reply to the bank with legal objections to the notice, if any, and also praying for time to settle the same, putting forward any ground for slashing the amount demanded in the notice

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Answered on 12/27/10, 6:02 pm


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