Legal Question in Banking Law in India

Re: Sarfaesi act

If you dont file the order of the DRT or improper I would advise you to file appeal before the Appellate Authority.

Your documents needs to be examined to formulate a detailed advise for you.

Please contact personally alongwith the details.

Professional charges are applicable.

Re: Sarfaesi act

It will be better if you can deposit the balance amount as appeal will again increase your costs with no gurantee of vacating stay in appeal.

Re: Sarfaesi act

The best course is to make the payment of amount stipulated by DRT or forget about the property as you cannot have both..Moreover the school, hospital etc. must have been there earlier when you took the loan and you must be receiving handsome income in the form of Rent etc.Please note that stay is not solution for such situation. The only available remedy is to convince the Bank to give some time for payment if you realy have ANY temporary liquidity problem..

Re: Sarfaesi act

Documents are required to be examined.If the order of DRT is not proper then you may file appeal before appellate authority i.e.DRAT(Debt recovery appellate authority).In case any need contact with details,professional chargesa are applicable.

Re: Sarfaesi act

first option settle matter with bank . If not possible go in writ however section 14 doesnot provide for any appeal is to be highlighted and file appeal against vacating stay and ordering u to pay Rs. 5 lacs as the same is against Suprem Court verdict in Maridiya Chemical case . u would get stay from High Court in Writ as there is no provision of appeal u/s 14 and also for issuing wrong order of predeposit of Rs. 5 lacs

Re: Sarfaesi act

you can file an appeal in DRAT within the time granted by DRT.However it is unlikely that the DRAT would stay unless you deposit the amount ordered by DRT. It is better to abide the conditional stay order rather than to file the appeal or then Revision in the High court in whose jurisdiction the DRT is situate.