1)if bank i seeking to auction your house file appeal before DRT  and seek stay of auction 

2) offer to deposit 10 per cent of amount and seek time of 3 months to make balance payment 

Dear Cleint,

Have bank issued notice u/s 13(3) of the act ?

Submit your payment mode to bank, if not agree file application in DRT, than tribunal will stay the auction and you will get enough time for OTS.

1. You will have to first apply in court deposit the money with he DRT so that it first stay the auction till you make the full payment.

2. Since you were defaulter for long time the DRT may be circumspect in allowing the stay on auction unless you deposit at least half of the reserve price for auction.

3. The representation to bank can be sent but it is unlikely to give any result.

Yes for auction they have to give you one month notice as per the rules and Sarfesi act.

Further you can enter into settlment with bank for paying complete amount in two month and you can draw a agreement for same. If bank agrees then it is good otherwise approach DRT against 13(4) and auction it will give you some time to settle.

file an application for stay. If not, then you can file a fresh case in court to obtain a stay.

You can file an objection to the auction process and the bank shall consider it. It may reject it and you can go to the high court but it cannot interfere in the notice. It can order the bank to wait for 2 months and auction your house of the dues are not paid.

Regards 

Dear Sir,

It is a very dangerous Act and under the provisions of said Act the bankers can do anything they like.  Instead asking them a time for repayment you may get a buyer and sell the property by paying of your entire loan amount.  Otherwise the bankers may cause a heavy loss to you by selling the property at megar price.

Please check if the bank has started the auction process as they have taken position in November itself it will take some more time in the meantime you can move to the High Court against the bank order to get stay on the auction by the bank and get the time from the court to deposit your amount

1. first you will get a 60 days notice by the bank to repay its outstanding dues

2. on receipt of this notice from bank, you can write to the bank to consider your request of making part repayment and balance on later date

3. now its upto the bank whether to accept or not your proposal

4. the bank will communicate to you its decision within 15 days of receipt of your proposal

5. if the bank declines your proposal, you cannot file any application to DRT or district court to challenge such refusal

6.your only remedy to save the property from being sold in public auction is to repay the bank's dues in full within the notice period of 60 days under the s.13(2) notice

7. if you fail to repay the dues, then bank will take action under s.13(4) by taking possession of secured asset and then sell it by public auction

8. s.13(2) notice is the only notice which you will receive. The bank will not send you any other notice before putting up your property for public auction. So you have to ensure that you repay the bank's dues before the bank issues public notice in newspapers for sale of your property by public auction 

1) You can stop the auction by providing written letter to bank. If bank is not listening than get same injunction order from court. And narrate your all issues.How you are going to make the payment to bank.

A partner has no right to get a partition of the partnership property in special, but only after the dissolution of the partnership.

1) To built these two buildings have you taken loan from bank and that is now turned to auction by bank.

2) Further I would like to know who is responsible for loan you alone or partnership firm ?

3) If all are responsible for loan than what about their share is still with them or they have sold it.

There are few more questions that need to talk with you.

Sir your follow up question and principal question are entirely different and unconnected

Ideally a fresh query has to be posted for every new query

Admin kindly look into this

Anyway, coming to your query:

supplementary deed will be binding on the partners as to their respective shares in the ground floor carpet area and you can sell your share on basis of this supplementary deed. No additional document is required

Suplementary sharing agreement between partners should be duly stamped and registered 

it would be binding upon parties and confer clear and marketable title to property 

See for immovable property you have to make a deed and you have to register same by paying stamp duty . All the partners can sign the deed. For immovable property for clear title registration is mandatory.

You need to take a stay for the said auction and guidelines of the said Court for praying time. You can request the bank too for the same.

If the bank decides to bring the property to auction sale then you cannot do anything about it including filing an injunction petition because you have been given sufficient time to repay the loan.

In fact the bank may not accept your proposal to pay 10% amount now and permit you to pay the remaining amount after two months.

They may accept the payment now but they will immediately bring the property to auction sale for recovery.

If it is brought to auction sale you will not get any notice period.

Even now you can sit and talk to the bank manager or his higher authority to salvage this issue and see what best can be done.

If the original agreement between the partners for dividing the property sale components among yourselves was by a registered document then the subsequent supplementary deed need not be registered, it can be enforced on the basis of the previous deed.

You can go ahead with the proposed distribution of FSI as per your mutual agreement among the partners by executing this supplementary agreement.