Legal Question in Banking Law in India

We would like to know the procedure to be adopted by the Advocate commissioner appointed by CMM court u/s 14 of SARFAESI Act while taking possession of the secured property.

Asked on 6/30/13, 7:26 am

2 Answers from Attorneys

Fca Prashant Chavan Expert Edge LLP
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30.06.2013

Dear Sir / Madam,

The Chief Metropolitan Magistrate who appoints the Advocate Commissioner reports to the Attorney General of India. He / she has to serve the notice, visit the property, and make a detailed note of the property in question.

Regards,

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6/30/13, 7:59 am
Yash Kumar Yash Kumar & Co.
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Dear Sir,

The person so appointed will take the notional possession of the premises in the presence of the Local Police and submit his report to the CMM.

Thanks

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6/30/13, 11:15 am

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