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Loan recovery notice received from bank
03-Jan-2023 (In Recovery Law)
Our loan account has gone in NPA, and bank has served notice of possession notice on 18/03/2020 through recovery agent, as per RBI GUIDELINES, while serving this notice on 18/03/2020 the recovery agent was not having any kind of legal documents or any ID card proof provided by bank with him and before serving this notic bank has not informed us about details of recovery agency firms / companies while forwarding default cases to the recovery agency. So will this notic be treated as illegal because bank has not followed RBI GUIDELINES, and with the help of this notice bank has served notice of E Auction of property 2 days ago. So is it possible to stop the process of E Auction
Yes E auction can be stopped if you get the stay order from the concerned court... whether the notice served to you is u/s. 13(4) of SARFASI ACt?
If the bank has not followed the RBI guidelines you will get the stay order on the basis of the notice served to you..
Need to check papers... for more consultation.
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Adv. Ruchi Singh
Navi Mumbai | 100+ Answers
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