Legal procedure to obtain stay order on auction of property by bank

My father took loan on house property in 2008 of 3.4cr and he has paid all emi till 2014 and after that dur to aome reasons we couldn't pay the rest. Now bank has issued notice of auctioning our property. How can we get a stay from the court and what are the chances of getting it?

Answers (1)

Dear Reader,
In reference to your query, I am of the opinion that under such circumstances, you may file an Appeal before the Debt Recovery Tribunal ("DRT") under Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("SARFAESI Act"). The court fees in case of filing of an Appeal will be a maximum of Rs. 1,00,000/-

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Banking / Finance Lawyers

Advocate Shikhar Khare
Jangpura Extension, Delhi
6 years Experience
Advocate Sunil Dalal
New Friends Colony, Delhi
22 years Experience
Advocate R.K. Gupta
Goyal Vihar, Indore
19 years Experience
Advocate Barkha Bhalla
Banjara Hills, Hyderabad
16 years Experience

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Banking / Finance Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or contact a Lawyer of your choice to address your query in detail.

Related Articles

" has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Similar questions

Dear Sir, I had been paying montly installement for chit fund, I march i had some critical financial crises so i called off chit amount, since 35 days…

Read More

I brought a loan of 2 lac from my neighbour in 2011 interest @ 36% per annum and i paid interest untill 2013 after that i not able pay that interest. …

Read More

Can I file a suit on Bank for unnecessarily disturbing me for payments, not purchased by me. There are error in the statements and the same is continu…

Read More

My father had opened a bank account in Vijaya bank for keeping his money in my name when I was small. Now I would be getting a job in a year. My famil…

Read More

Talk to a lawyer for your legal issue