CAN I TAKE STAY ON AUCTION FROM DRT ?

It may be possible to seek a stay from DRT with no deposit up to the second hearing date of 22.2.2017. However, this will depend on the specific circumstances of your case and the discretion of the DRT. It is also possible to approach the High Court if the DRT poses a deposit clause, but again, this will depend on the specific circumstances of your case.

It is important to note these legal proceedings can be complicated and may require careful consideration. It is advisable to seek legal counsel from a qualified lawyer with proper disclosure of facts and related documents to fully understand your legal options and potential outcomes.

Please let us know if you have any further questions or concerns.

1. Consultation with Legal Counsel: The first step is to consult with a legal expert or lawyer experienced in DRT matters. They can assess your case, advise on the viability of obtaining a stay order, and guide you through the legal process.
2. Review of Loan Agreement: Your lawyer will review the loan agreement and assess whether there are any legal grounds on which a stay order can be sought. Common grounds may include disputes over loan terms, discrepancies in the auction notice, or irregularities in the loan recovery process.
3. Filing of Application: If there are valid grounds, your lawyer will help you prepare and file an application for a stay order with the relevant DRT. This application should be supported by documents and evidence substantiating your claims.
4. Court Proceedings: The DRT will conduct hearings to evaluate the application and the lender's response. Both parties will have the opportunity to present their arguments and evidence.
5. Decision: The DRT will consider all relevant factors, including the merits of your case, and will decide whether to grant the stay order. If granted, the auction process will be temporarily halted.
6. Duration of Stay Order: The duration of the stay order will be determined by the DRT, and it may vary depending on the circumstances of the case. It is typically granted to provide the borrower with a reasonable opportunity to resolve the issues with the lender.
7. Negotiation and Resolution: During the period of the stay order, you may use the time to negotiate with the lending institution to find a mutually acceptable solution, such as a loan restructuring or settlement.
8. Compliance with DRT Orders: It's crucial to comply with all orders and directions issued by the DRT promptly.
9. Legal Representation: Throughout this process, having legal representation is essential to navigate the complexities of DRT proceedings and ensure that your rights and interests are protected.