In Recovery Law
I took a loan of 2.5 crores from central bank of India. My account became NPA and bank issued 13/4 notice and took symbolic possession of property on 2.8.2016 and i moved to DRT Within 45 days of the notice and got the order date on 7.9.2016 for the same that i am not a wilful defaulter .DRT gave first date of hearing on 23.11.2016 and on appearing it gave second date of 22.2.2017 but yet bank has published e-auction notice with date of 6.1.2017 .Moreover Bank also applied to DM on 27.8.2016 and DM on 23.11.2016 which was the date i appeared before DRT issued me to appear before him on 22.12.2016 .Now i am confused i applied to DRT within 45 days of 13/4 yet bank applied to DM and my case is in DRT and yet bank without having any order from bank or the DM published e-auction advertisement today for e-auction on 6.1.2017 and my second hearing date before DRT is 22.2.2017 .can i get stay from drt with no deposit up to 22.2.2017 ?if drt poses a deposit clause can i go to high court?

Answers (3)

205 votes

File an Stay Application alongwith application for amendment and application for urgent hearing hearing before DRT in your pending Securitization Application. In the Stay Application challenge the auction notice which has been published by the bank in the newspaper.

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131 votes

Yes you can file a interim relief application before DRT for stay on auction proceedings further you can challenge the DM order before DRT. The statutory fees for each application in your case will be rs. 250/-. For more details i need your papers for best possible suggestions.

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If this is the case that the bank is flouting the order of the DRT whereas DRT has given a stay order in your favour. Then you have the liberty to approach the High Court to get a stay order till next date of listing before DRT.


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