Legal Question in Banking Law in India

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

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

2 Answers from Attorneys

Fca Prashant Chavan Expert Edge LLP


Dear Sir / Madam,

Yes, it is in order.


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Answered on 5/12/13, 3:36 am

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

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