CAN I TAKE STAY ON AUCTION FROM DRT ?


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)

Hello,
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.

REGARDS


Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

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.

Popular Recovery Lawyers

Advocate Rajesh Rai
Sector-19, Dwarka, Delhi
19 years Experience
Advocate Sunil Kumar Bakshi
Sector-16, Faridabad
32 years Experience
Advocate Saifuddin Saifee
Maharani Road, Indore
18 years Experience
Advocate J. P. Rinwa
Swej Farm, Sodala, Jaipur
18 years Experience

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.

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Recovery Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or contact a Lawyer of your choice to address your query in detail.


Related Articles


"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Similar questions

Last year i was jobless for more than 1year still not in right job I was having some dues of credit card which i failed to pay due to i became bankrup…

Read More

I have paid an advance of Rd. 49999/- , by cheque, to a carpenter in March 14, for carrying out wood work at my flat in Kukatpally, Hyderabad. I am ba…

Read More

Hi i purchased a product with my money on behalf of my friend in online through his approval. Later cancelled and money got refunded in his account. B…

Read More

Hi, i owe a person 80000 rupees and he is filing a case against me and i am unable to pay due to my financial issues. What are the consequences that i…

Read More