My bank account became NPA and bank gave me notice under 13/2 and 13/4 . I moved to DRT and filed SA within 45 days of issuance of 13/4 .My grandfather who was partner of firm died during the proceedings and DRT issued Stay order against the bank to restrict them to take possession but In between bank took possession of my assets under section 14 order by DM . When DRT started getting over the bank on breaching stay order bank moved transfer application in DRAT allahabad to transfer the case from DRT lucknow to another DRT ,the motive was to hinder the proceedings . Later on bank published auction notice , I went to DRT but due to transfer application DRT denied passing Any order and gave us liberty to get remedy at any other level that seems fit . We went to high court and we got stay for sale auction till my DRAT petition is disposed off and a DRT is assigned for hearing the pending SA . After this DRAT proceedings started but bank tried to hinder the proceedings there also and again put my property on auction . I again went to high court allahabad lucknow bench and high court issued contempt notice to the bank for breaching order of high court of not taking any coercive action on my assets . Now bank has accepted my OTS proposal and I have submitted 25% amount also .I have got sanction letter also . Now we are filing application in DRT and DRAT to obtain consent degree to end the pending litigations but bank is denying to provide possession of my home back to me till entire amount is deposited . I have questions that : 1. That after consent degree and taking back of all the pending petitions and signing of OTS the sarfaesi proceeding also gets dissolves than on what ground bank can still claim possession on the house ?? 2. Can DM order opening of locks after end of SARFAESI proceedings and signing of OTS . 3. If bank and DM denies opening of locks than can I go to high court to get possession of my home as I don't have any other home to live and currently living on rent and considering the action of bank in a wrong way by taking possession even after stay order and later when DRT tried to take action bank move transfer application for another court and later also bank tried to auction even after stay from high court and even contempt is pending. 4.what I can do to get my home back? Bank has asked me to pay remaining amount in 12 months but I need to get into my house and shop to manage the fund in that period .. Pls give remedy ...
1. Possession of the house can only be given after the final orders of DRT though SARFAESI proceedings dissolves.
2. Yes DM has powers to do so.
3. Better is to go and file additional affidavit to this effect.
4. Writ jurisdiction is the only way out.
1) unless full payment is made as per OTS bank will not deliver possession to you
2) DM cannot order opening of locks on signing OTS
3) HC would direct you to comply with consent terms then seek possession
After dissolving of SARFAESI proceedings in DRT by bank can I take back possession of my assets . The possession is under section 14 of the act itself if proceedings under the act are dissolved than how bank is legally right to take possession under section 14 . I have already comply the conditions of OTS of depositing 25% amount as upfront money .Remaining I have to pay with in 12 months
he consent terms have been signed by you in DRT / DRAT
2) bank has agreed to accept your offer of OTS
3) you have only paid 25 per cent of amount
4) there is no clause in consent terms that possession would be delivered to you on payment of 25 per cent of amount
5) unless you make full payment bank will not deliver possession of premises to you
Once you withdrawn the petition and bank will change it`s stance. Better get the settlement recorded in withdrawal order with liberty to file afresh if needed.
Bank is not bound by OTS and just to clear bad deft, bank ca to adopt any tactics. Wel,, get this recorded in DRT order and time bound that on this day, possession will deliver to you and no auction will proceed by bank.
NO, DM cannot.
Better make payment and take possession and than withdraw. 25% you already paid, ret amount in 12 months, OTS must be executed between parties, on the basis of request DRT to order possession in your name. Since, bank has received advance towards OTS, DRT will favour you.
Get this arrangement recorded in court order and take an adjournment. File mutual application of OTS with conditions. and take next hearing date.
1.no grounds bank can proceed.
2. Yes
3.Yes you can do the same
For the purpose you should have order either from the DRT or from Hon'ble High Court so it will be better to move an application to the both these courts and better to move to Hon'ble High Court with additional affidavit containing the latest facts of depositing the money etc.
1. You may have to repay the entire amount before getting possession, hence bank is holding back the property.
2. It depends on how bank convinces the DM
3. You may.
4. You may have to repay the entire amount as bank would mention that in court.
The bank may refuse to handover possession since the outstanding loan amount has not been cleared hence you may obtain particular orders from high court in this regard than getting a general order.
According to OTS the bank will not handover the possession to you till you clear the loan amount sanction to you via OTS scheme.
No DM will not issue such order as mentioned in terms and conditions of OTS scheme. And stay order are granted by High court.
You can move to High court for getting possession of house as you have no other sources of income except that shop. High court may order to handover possession.
