Legal Question in Banking Law in India

sarfaesi act

i am living in a house as a lease not fo rent, but it may go for banks possession due to nonpayment of dues at any time? how to prevent the bank from stopping it? how will i get my money back? even the owner is ready to register the document? if it is registered one then will i get money supersede to bank? or can i file a civil suit against the owner of the property and file a caviat including bank? what are all the other possible ways of getting my money back or to prevent the bank from entering my premises? even the owner is telling you take the items of materials like doors, windows etc? can i take it? what is the solution for me?


Asked on 12/02/08, 7:58 am

6 Answers from Attorneys
AMAN SHARMA SHUBH C SHARMA and company

Re: sarfaesi act

kindly contact me on my number 09872784202 coz some details are missing. since you are living in rented property i need details about the mortgage done by you. bank cannot do anything as per your facts but again i say your facts are incopmlete .

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Answered on 12/02/08, 8:17 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: sarfaesi act

contact a local banking lawyer

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Answered on 12/02/08, 8:34 am
Nasir Butt Nasir Law Associates

Re: sarfaesi act

Needs more details to form opinion.

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Answered on 12/02/08, 8:51 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: sarfaesi act

Your statement is incomplete. If your lease deed is prior to the bank's loan, your rights may not be affected.

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Answered on 12/02/08, 9:36 am
J. Radhakrishnan independent Practice

Re: sarfaesi act

your question is not properly worded. If u are a tenant of a house whose owner had mortgaged the same to a Bank and the Bank for non payment of its dues to it by the landlord proceeds to take possession of the house, the question is when have you become a tenant. If it is before the Bank had issued the notice under Sec.13(2) of the SARFAESI Act, you may file an application to the DRT when the Bank tries to take symbolic possession. In any case,it is advisable for you to consult a local lawyer with all documents in support of the case and proceed as per his advice.

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Answered on 12/02/08, 9:58 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: sarfaesi act

Facts are not sufficient.

Kindly contact a local banking lawyer.

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Answered on 12/19/08, 2:39 am


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