details about private treaties
the bank has sold some of our property on the name of private treaty
2 Answers from Attorneys
Dear Sir / Madam,
If the terms and conditions of the loan permit the bank to sell the property by private treaty without conducting an auction in the event the borrower fails to repay the loan, there is nothing you can do about it.
Normally banks won't sell by private treaty under SARFAESI Act proceedings without first trying to sell by public auction. If such is not the case,u can file appeal to DRT questioning the sale as illegal.
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