Legal Question in Banking Law in India
can i get a stay order on possession notice under sarfaesi act?if i want make a settlement what is the procedure?as my husband has died who has taken loan from icici bank and i am a house wife.
Asked on 7/10/12, 1:32 pm
3 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
you may file a petition in the Debt Recovery Tribunal for stay, possession and settlement.
Answered on 7/10/12, 9:43 pm
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
For stay order file petition in the tribunal or High court. For settlement you can request the court to send the matter for lok adalat or to a mediator for settlement. You can also go for out of court settlement if Bank is ready for settlement.
Answered on 7/11/12, 7:15 am
Vivek Mapara
Vivek N. Mapara
Notice is under which section is it 13(2) or 13(4) notice. Prior to 13(4) you can approach High Court, but after that you will have to approach DRT.
Ask bank, if they are ready for settlement
Answered on 7/11/12, 11:48 pm
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