1. If you are defaulter in loan then you will have to pay the money.

2. However if you are not in a position to pay the whole money then you can send representation to the bank.

3. Now if the bank does not agree then you can file an application u/s 17 of the SARFAESI before the DRT seeking injunction against auction.

4. However do note that at the end you ill have to pay the money which you borrowed from bank.

Agriculture land cannot be proceeded for recovery of loan.

In case the agriculture land was mortgaged then only it can be auctioned otherwise the agriculture land cannot be auctioned by the bank. Further you can talk to bank and make an settlement agreement and can seek time for payment of the loan amount.

There is no gainsaying that Section 31(i) of the SARFAESI Act makes the provisions of this Act inapplicable on any security or interest created in an agricultural land.

In your defence take plea that land is agricultural and agricultural activities are being carried on the said land

1. No SARFAESI action can be initiated against mortgaged agricultural land in case the loan account has become NPA.

2. However, the Bank can approach the Court for executing the mortgage and for selling the same to recover its dues.

3. Civil Court is within its jurisdiction to pass order for executing the mortgage and for selling the same to recover Bank dues standing in your name.

4. You have taken loan from the Bank dealing with public money which you shall have to repay as per law.

there is no restriction under SARFAESI Act that an agricultural land which is mortgaged for availing a loan, cannot be auctioned in case of default, to recover the dues of the bank

the only option with you is to clear the bank's dues

you can request the bank for a one time settlement amount and waive interest and penalty accrued on arrears of EMI

Yes engage a Civil Lawyer to fight before the Hon'ble court.

Defaulting farmers’ land won’t be auctioned.

in case of any recovery of the amount court can attach other properties of farmer.

Firslty, if you have taken loan on the surety of some land irrespective of its nature then you are liable to pay back to save that land.

Secondly, yes they can make an auction of the same to recover their amount, and they are also liable to pay back the rest after deducting their loan amount plus interest if any amount is left.

Thirdly, though you can make a request to wait for some time if you can arrange the money otherwise it is difficult for you to stop it.

If the property has been given as collateral security then the bank may move court for bringing it to auction sale for recovery of the defaulted loan amount.

Normally, no agricultural land can be mortgaged for raising loan for other than agricultural activities. This is of course, state specific and you have to check if in your state this condition is applicable or not.

During the notice period, you can make your representation to the authorised officer and put forth your objections to the repossession notice. “The officer has to reply within seven days, giving valid reasons if he rejects the representation and objections raised by the borrower.

It depends on how you defend yourself in the court by providing any settled laws in this regard.

Hi,

The bank have the right to take possession of the property for which loan is granted and you may move to DRT for having any order in your favor, but remember that you will have to deposit the loan amount.

Yes the bank can move for auction if the same has been mortgaged against the loan