• Restoration of physical possession of asset by bank after OTS

I took a loan from a nationalized bank which became NPA they sent me demand notice under 13/2 and i filed a suit in DRT lucknow . Meanwhile my grandfather who was also a partner expired and DRT restrained bank to proceed against the property of my grandfather and asked for substitution of legal heirs but bank in between took possession of my assets one month back . The hearing was going on in my favour and a day before judgement bank in order to create pressure on us filed an application in DRAT allahabad to transfer the case to some other DRT as they think that the bench is biased towards the borrower . The DRAT allahabad has issued notice to me for deciding the transfer application .Now since DRAT has to decide about the transfer application DRT LUCKNOW presiding officer has denied any hearing till transfer application is decided .Now in UP apart from lucknow there is DRT in allahabad but due to no Presiding officer the charge is in DRT JABALPUR .It is impossible for me to go to JABALPUR as my sister is in hospital and family is also deprived of house and its a pathetic time for all of us .Now DRAT allahabd has given a date of 31.7.2018 whch is two months away . So in my case legal opinion of my counsel is that since substitution of legal heirs is allowed the demand notice under section 13/2 is to be serve afresh to the legal heir of the deceased borrower and SARFAESI proceedings have to be start afresh and DRT will quash previous demand notice and will restore the posession of the assets to my family .
1. can i go to high court to let my case be in DRT LUCKNOW for disposal as i can not wait for two months to know where my case will go ?
2.In case i can not appeal against transfer application before decision by DRAT can i go against the DRAT judgement of transferring case to JABALPUR OR DEHRADUN as these places are far away from my home . 
3.Is DRT lucknow p.o. is right in not giving any judgement till transfer application is decided ?


BANK HAS AGREED FOR OTS at 3.00 crore with me and i am ready to give 25 percent upfront money with six month time for settlement but bank is denying to restore posession of my home till all the loan is cleared . Can i go to DRT or High court to request posession of my home to me after signing OTS and paying 25 percent of upfront moeny ???

is there any way to get speedy disposal of my case or to get posession by signing OTS ? i WANT TO SETTLE my dues with bank via OTS but in case bank will deny posession i will rely on waiting for my case judgement in DRT .what is the right thing to do 

pls help me
Asked 7 years ago in Civil Law

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12 Answers

1. first wait for the judgment of DRAT Allahabad.

2. you will have to file your objections against the bank's application to transfer the matter to another DRT

3. if the transfer application of bank is allowed by DRAT Allahabad and the matter is ordered to be transferred to some other DRT which is far way from your house, then you can challenge the DRAT Allahabad decision by filing a writ petition in High Court

4. DRAT Allahabad has to consider the say of both the parties. It cannot order the transfer just on the basis of the bank's apprehension that DRT Lucknow is biased in favour of borrower

5. If the bank has offered you OTS, then you must go for it

6. but the bank will not restore your possession until the entire OTS amount is cleared by you

Yusuf Rampurawala
Advocate, Mumbai
7899 Answers
79 Consultations

bank would not deliver physical possession until full payment is made in full and final settlement

no court would grant you physical possession until full payment is made by you

3) even if you file petition in HC you would not get immediate reliefs . Hc would pass orders after considering rival submissions

4) you can file appeal against DRAT order

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

no bank manger would take the risk of delivery of possession of property to you when 75 per cent dues are pending

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

hello,

I am not able to understand why the bank has contended that the DRT is biased towards you. the transfer application is still pending so the cases cannot be decided until the same is pending. the DRT lko. cannot decide the case until the application is pending. let the DRAT decide first and then go to the HC. there is no use going to the HC as of now.

regards

Rahul Mishra
Advocate, Lucknow
14114 Answers
65 Consultations

file writ in HC seek stay of auction

2) mention that DRT lucknow is not hearing your application as bank has sought transfer of case from lucknow

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

1. can i go to high court to let my case be in DRT LUCKNOW for disposal as i can not wait for two months to know where my case will go ?

You cannot move high court on this, you can move the same court with a petition for hearing advance for the reasons you rely upon.

2.In case i can not appeal against transfer application before decision by DRAT can i go against the DRAT judgement of transferring case to JABALPUR OR DEHRADUN as these places are far away from my home .

You can very well prefer an appeal if you are aggrieved against the said judgment.

3.Is DRT lucknow p.o. is right in not giving any judgement till transfer application is decided ?

There is no legal infirmity in it.

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

Can bank officials have right to provide me possession after deposit of 25 percent OTS amount or they do not have legal right?

It depends on the discretion, most likely they may not deliver possession.

What is legal position in this regard. Someone has said that if senior officers may agree then after deposit I can get my home back and remaining property can remain with bank in physical possession . I want only one property possession be restored in my favour which is my home.. Can bank consider the request if they want to?

Bank's decision canot be predicted, you may talk to them about it, in case they do not agree for it then you may have no option.

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

My transfer application is pending before allahabad on 31.7.2018 for deciding.... In between bank has put auction on 26.6.2018 .what to do now?

You can file a petition for hearing advance in view of the dire situation and explain court about this and get an injunction immediately on the basis of bank's proposal to bring the property in auction sale.

Can I get stay for auction till transfer application is decided as DRT Lucknow is not hearing my application due to transfer application moved by bank.. What is way to get stay?

You can adopt the steps suggested above.

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

can i go to high court to let my case be in DRT LUCKNOW for disposal as i can not wait for two months to know where my case will go ?

You need to wait till the petition filed for transfer by bank is pending only after order of DRAT you can file writ petition before high court.

Is DRT lucknow p.o. is right in not giving any judgement till transfer application is decided ?

Till application filed by bank is decided DRT P.O. cannot pass any order as if he pass order it will be illegal.

Can i go to DRT or High court to request posession of my home to me after signing OTS and paying 25 percent of upfront moeny ???

Even if you approach court will not give you possession by just payment of 25% ,of money.

is there any way to get speedy disposal of my case or to get posession by signing OTS ?

Better talk to your bank manager they may agree to give you possession on payment of certain percentage of dues. But again it depends on bank officials.

Can I get stay for auction till transfer application is decided as DRT Lucknow is not hearing my application due to transfer application moved by bank.. What is way to get stay?

Yes you can get stay from DRT restraining the bank from auctioning of property till pendency of suit. Get an injunction from court.

Swarnarka Chowdhury
Advocate, Mysore
1879 Answers
5 Consultations

hello,

try to expedite the process of the transfer application at DRAT Allahabad. if it is not possible, then file a writ petition in the HC stating the facts and praying for speedy disposal of the application at DRA and grant stay till the application at DRAT is disposed of.

itis true that since substitution of legal heirs is allowed the demand notice under section 13/2 is to serve afresh to the legal heir of the deceased borrower and SARFAESI proceedings have to start afresh.

Rahul Mishra
Advocate, Lucknow
14114 Answers
65 Consultations

1) you cannnot break locks of house after court order

2) bank is at liberty to file appeal against DRT order

3) if DRAT orders maintenance of status quo you would not get possession of property

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

1. You have to implement the orders of the DRT by filing an execution petition after the expiration of the appeal period.

2. If you get an order in your favor through DRT and the bank is not preferring an appeal in DRAT, then you may file a petition before DRT itself to permit you to deposit the OTS and upfront amount since the bank is refusing to accept the same.

Let the DRT pass an order accepting or rejecting your proposal after which you can look for other mode to deposit the amount.

You will get all these details in the original order itself, you can use it as guidelines and follow up action can be taken on that lines.

Dont take law into your hands, you wait for the orders from DRT in your favor and then plan further actions after discussing with your advocate.

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

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