Will securitisation application for quashing sale be maintainable?

22-Mar-2023 (In Banking / Finance Law)
original application is disposed off with court orders to deposit the loan amount failing which bank will proceed with sale of the property, party did not comply with the order and filed a securitisation application for quashing the sale. will the securitisation application be maintainable?
Answers (2)

Answer #1
836 votes
I dont know under what ground you have filed SA but as a matter of law SA is maintainable against sale of securitisation asset. Feel free to seek further guidance. You may seek interim protection against sale by filing interim application before DRT against any action by the bank under section 13 (2) of Securitisation Act.
Answer #2
975 votes
hello client
as per your query i have received from ur side the quashing of sale which is been ordered from the court as u want to know wheather securitsation application for the quashing will be maintainable or not for this we need to go through the application which is been filled .

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