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Can Bank Publicly display 13(2) Notice out side the Borrowers property
26-Mar-2025 (In Recovery Law)
Can Bank Publicly display 13(2) Notice out side the Borrowers property under the sarfaesi act, 2002
Hello Sir/Mam
Section 13(2) of the SARFAESI Act allows a secured creditor to issue a notice to a borrower demanding repayment of the outstanding loan amount and interest within 60 days if the borrower defaults on a secured debt.
Rest depends on the matter.
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Advocate Kuber Hooda
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Adv. Kuber Hooda
Panchkula | 400+ Answers
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Legally yes bank can publicly past notice on non appearance or on non compliance of the said notice under the act
If you don’t comply with the same then he has right to take the possession under section 13(4)
In one condition it is excluded when the borrower has paid 80% of the loan amount
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Adv. Gurudeep Saini
Gurgaon / Gurugram | 25+ Answers
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