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Sarfesi auction - bank asking for expenses of physical possession
07-Feb-2025 (In Property Law)
Hello... We had purchased property in bank auction.after 5 months bank has received physical possession.now bank has emailed us to transfer the expenditure incurred by bank to get physical possession to them.we were never told about this beforehand.
They are quoting Rule 9(7) of Sarfesi act.
Please be familiar with rule 9(7) before answering.
I think, you are talking about Rule 10 (7), mistakenly you have heard and mentioned it Rule 9 (7) of SRFAESI Rules, 2002, Rule 9 (7) of SRFAESI Rules, 2002 says that - The Manager shall have power by notice in writing to recover any money from any person who has acquired any of the secured assets from the borrower, which is due to may become due to the borrower.
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Adv. Pankaj Bajaj
Mumbai | 1000+ Answers
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