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bank is issuing 13(4) notice. court stay on it
15-Apr-2024 (In Recovery Law)
my account has gone NPA and having outstanding amount of 51 lacs. Bank is issuing mei 13(4) notice in coming days. I am looking for stay on it and want to go for OTS settlement. but bank is not interested in OTS as property value is around 1 cr and whereas my outstanding amount is 51 lacs. pl suggest how can i get stay on this and get my OTS
yes , if you received notice under section 13(4) of the SARFAESI Act, 2002, after that you can file a securitization application under section 17 of the SARFAESI Act, 2002 before the Debt Recovery Tribunal for stay of possession of your property.
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Adv. Rishabh Gupta
Delhi | 100+ Answers
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We have to file an application under Section of SARFAESI ACT in order to seek the relief which you intend to seek. I have an experience of dealing with such kind of matters, do let me know so that we can proceed with the mandate
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Adv. Alankrit BhatnagarÂ
Delhi | 100+ Answers
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You may engage a lawyer and seek a detailed consultation for your ongoing case. You must have received the Notice under Section 13 (2) . Let the notice perused and file an appropriate reply to the same followed by a Petition under section 17
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Adv. Anubhav Kathuria
Delhi | 500+ Answers
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you can stop bank by filling personal insolvency. once this application is filled, the mortarium will click in, and the bank won't be able to proceed further.
The protection is granted under insolvency laws.
The protection is granted under insolvency laws.
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Dr Ajay Kumar Pandey
Delhi | 25+ Answers
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