WebMar 31, 2024 · The process under which they operate is SARFAESI Act procedure. Under the SARFAESI Act procedure, i f a borrower is unable to repay his loan (this includes home … WebAug 27, 2024 · The respondent bank issued a notice under Section 13(2) of SARFAESI Act to the legal heirs of the borrower. B...authority will have to verify from the bank/financial institution/secured creditor that the notice under Section 13(2) of the NPA Act is served; that the secu..., learned counsel appearing for the petitioner, had submitted that the District …
Section 13(3) in The Securitisation and Reconstruction of …
WebOct 6, 2011 · Section 13 (3) inter alia states that the notice under Section 13 (2) shall give details of the amount payable by the borrower as also the details of the secured assets intended to be enforced by the bank/FI. In the event of non-payment of secured debts by the borrower, notice under Section 13 (2) is given as a notice of demand. WebAug 1, 2011 · As per the aforesaid clause, it can be interpreted that the secured creditor alone can send the notice under section 13 (2) of SARFAESI ACT, 2002 through their lawyer or by himself since there is no mention of Authorised Officer in the said section of the act. But Section “3A- Reply to representation of the borrower” which clearly states ... lychee mod
"Duly Noted”: Notice period for subsequent sale notice under Rule …
WebFeb 25, 2024 · SARFAESI Act and issued demand notice under Section 13(2) of the SARFAESI Act, dated 30.06.2024. For the demand notice issued by the second re...13.08.2024, for which, the second respondent Bank sent their reply notice dated 30.08.2024. 3.It is the contention of the petitioner that he is willing to pay the entire … WebNov 3, 2024 · Delhi High Court: A Single Judge Bench comprising of Vibhu Bakhru, J. dismissed a petition seeking a writ to be issued to set aside the reply under Section 13 (3A) of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) given by the respondent Bank against the … (13) No borrower shall, after receipt of notice referred to in sub-section (2), transfer by way of sale, lease or otherwise (other than in the ordinary course of his business) any of his secured assets referred to in the notice, without prior written consent of the secured creditor. kingston borough pa tax collector