Legal Question in Banking Law in India
how much time period ine can get after serfeasi act
Asked on 8/25/09, 1:31 am
2 Answers from Attorneys
Question is not clear.
If you are a customer, you may check the notice u/s13(2), time period is mentioned therein.
Where notice u/s 13(2) of SARFEASI Act is issued to borrower to discharge the liablity in full, 60 days time is granted. Failing which possession is taken after issuing notice u/s13(4) and a notice of 30 days for sale of immovable secured asset is served.
Answered on 8/25/09, 5:38 am
J. Radhakrishnan
independent Practice
Please frame the question properly. If tthe bank has issued Sec.13(2) notice, you get 60 days to reply and another two months before they proceed further to appeal to the Bank for settlement in case they go ahead further.
Answered on 8/25/09, 7:22 am
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