Re: Sarfaesi act

Issue fresh notice with the correct particulars

Re: Sarfaesi act

The previous notice should recalled by tendering an apology to the borrower.

However, that may be done without recourse to lender's rights to issue a fresh notice with correct particulars.

Re: Sarfaesi act

Notice u/s 13(2) may be recalled if any errors have crept in by issuing a fresh notice,its not a big issue at all as per law.If still you feel unsecured of the process then you may issue a corrigendum followed by a fresh notice.

Re: Sarfaesi act

If the notice sent under Sec.13(2) is defective on account of the Schedule not describing properly the property secured, we can advise you to send a fresh notice containing the correct particulars. That will put the issue beyond any legal challenge. No need to recall earlier notice or sending a corrigendum. Heavens are not going to fall if the borrowr/mortgagor is given some more time on account of the fresh correct notice. It is only a question of attending to things properly and no need to dilate on some obscure legal arguments.