Legal Question in Banking Law in India
Sarfaesi
In terms of the SARFAESI act if
there are any errors in the notice
under Section 13(2) an amended
notice or necessary clarifications
can be issued. In my case there is a
defect in the property details
mentioned in the notice, which has
been brought to the notice of the
bank. Now if the bank issues a
letter informing the correction in
respect of the details of the
property, is the Bank again bound
to wait for 60 days more before
taking further steps viz taking of
possesion of the property.
Asked on 1/22/09, 12:15 pm
3 Answers from Attorneys
Prof.Somnath Mukherjee
s.mukherjee associates,09874053359
Re: Sarfaesi
Already replied.
Answered on 1/23/09, 12:53 pm
Prof.Somnath Mukherjee
s.mukherjee associates,09874053359
Re: Sarfaesi
It is not clear to me what is your question, however you are request to contact a lawyer.
Answered on 1/22/09, 1:46 pm
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: Sarfaesi
You may not depend upon the 60 days period to take necessary steps.
Answered on 1/22/09, 2:43 pm
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