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Legal Question

Asked on: 5/11/13, 11:14 pm

Under SARFAESI act bank sold the factory consisting of land nad buildings and also movable machines. But no machines were taken possession of. without taking possession of the movables. Is it in order

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Answered on: 5/12/13, 3:36 am by Fca Prashant Chavan

12.05.2013

Dear Sir / Madam,

Yes, it is in order.

Regards,


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Expert Edge LLP prashant.pscl07@gmail.com "always A Step Ahead", Mumbai 52

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Answered on: 5/22/13, 7:07 am by Jayesh Desai

Bank must have taken possession, as without possession they can not give possession.

Any way when the event happened - you may not be legally permitted to object now, as you need to take objection as per the time prescribed under the Securitisation Act.


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Jayesh Desai 609 Dalamal Towers Free Press Journal Marg Nariman point Mumbai, 400021

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