• Where can I find Notification from Govt of India enforce provisions of SARFAESI Act 26D

My Company has got a loan from bank.
They did not registered in CERSAI.
upon filing a complaint / RTI to cersai says Secion 26D of SARFAESI act, is yet to be notified by Govt of India.
the Loksabha Bill can be found on link below
http://www.thehindu.com/migration_catalog/article14544037.ece/BINARY/SARFAESI

But I want to ensure whether CERSAI officer speaking the truth and There is no notification from Govt of India about 26D in SARFAESI act 2002.

If anyone can kindly clarify about this, I will be very thankfull. 

regards,
Vasundhara
Asked 4 years ago in Property Law
Religion: Hindu

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7 Answers

Dear Client,

Sec 25D already amended, and without registration of security interest, secured creditor cannot proceed under SARFAESI .

Yogendra Singh Rajawat
Advocate, Jaipur
21481 Answers
31 Consultations

4.4 on 5.0

Hello,

No, to the best of my knowledge there is notification from Govt. of India about 26D of SARFESI Act.

Regards

Anilesh Tewari
Advocate, New Delhi
17940 Answers
377 Consultations

5.0 on 5.0

File RTI and get the information from cersai officer. The section 26D is in active.

Prashant Nayak
Advocate, Mumbai
27291 Answers
88 Consultations

4.4 on 5.0

The amendment act has been already been notified https://www.google.co.in/url?sa=t&source=web&rct=j&url=http://drtcbe.tn.nic.in/Actsrules/SARFAESI%2520AMENDMENT%2520ACT%25202016.pdf&ved=2ahUKEwiJpb-Kgq7bAhUfR48KHVG5C98QFjADegQIABAB&usg=AOvVaw2A9WGbBXEa0byGENcrX9qd

Though there is no separate notification to notify 26D still the amendment act of 2016 is notified in bits.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

Since only a interim order is only passed and they are permitted to file fresh affidavit, you can argue out the matter in the next hearing and an further affidavit of reply can be file answering that specific point relating to bank blaming you on giving the DRT affidavit copy to DM so in case the council argues the matter on merits and the writ is disposed of then the high court can vacate the earlier interim order.

So its better to argue the Writ on merit and let HC pass order and decide it finally.

Shubham Jhajharia
Advocate, Ahmedabad
25516 Answers
179 Consultations

5.0 on 5.0

HC has not rejected your contentions

2) it has merely permitted bank to file fresh affidavit

3) you can file detailed reply before magistrate court

4) let magistrate pass necessary orders

5) then decide your next course of action

Ajay Sethi
Advocate, Mumbai
87976 Answers
6207 Consultations

5.0 on 5.0

26D. Notwithstanding anything contained in any other law for the time being in force, from the date of commencement of the provisions of Chapter IVA, no secured creditor shall be entitled to exercise the rights of enforcement of securities under Chapter III unless the security interest created in its favour by the borrower has been duly filed with the Central Registry.

Section 26D of the SARFESI Act 2002 was inserted by the Enforcement of the security interest and recovery debts laws and Miscellaneous provisions (amendment) act 20126, (Act 44 of 2016) section 18 (w.e.f. 01.Sep 2016.

T Kalaiselvan
Advocate, Vellore
78133 Answers
1543 Consultations

5.0 on 5.0

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