Legal Question in Securities Law in India

under sarfaesi act how can we auction cattle

Asked on 6/22/16, 11:04 pm

1 Answer from Attorneys

Vivek Mapara Vivek N. Mapara

I am not sure, if cattle can be auctioned under SARFAESI Act, in view of bar u/s 60 of CPC to auction cattle, however, presuming, it can be, then the provisions as laid under Rule 6, 7 of the SARFAESI RUles, 2002 have to be followed, which pertains to auction of movable property. This provides, that you have to serve 30 days pre sale notice to borrower and thereafter conduct publc auction of the same

This is preliminary advise, for more details please feel free to contact me

Vivek N Mapara

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Answered on 6/23/16, 2:54 am

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