Legal Question in Banking Law in India

under sarfaesi act whether movables can be sold without taking actual physical possession

Asked on 5/11/13, 10:47 am

2 Answers from Attorneys

J. Radhakrishnan independent Practice
0 users found helpful
0 attorneys agreed

How can movable a be sold without taking possession. If the movable a are pledged they are outside SARFAESi Act, if they were hypothecated they have to be taken possession first. Otherwise the same cannot be sold when the bank cannot deliver possession on sale of the same.

Read more
Answered on 5/11/13, 11:04 am
Fca Prashant Chavan Expert Edge LLP
0 users found helpful
0 attorneys agreed


Dear Sir / Madam,

The bank is authorized to sell the entire security pledged and hypothecated with it on "as is where is" basis. Once the sale is completed, all encumbrances on the entire property - immoveable and moveable assets, whether the bank takes possession or not, are transferred to the purchaser in the auction.


Read more
Answered on 5/12/13, 3:43 am

Related Questions & Answers

More Banking Law questions and answers in India

Looking for something else?

Get Free Legal Advice

88683 active attorneys ready to answer your legal questions today.

Banking Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Craig EpifanioCraig Epifanio, P.A.St Petersburg, FL
Rahul Manchanda, Esq.Manchanda Law Office PLLCNew York, NY
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now