if any notice has been received by you under section 13(2) of sarfeasi act engage a lawyer and file detailed reply 

2) deny that sum of RS 11 lakhs is due and payable . ask for detailed statement of account as how figure has been arrived at 

If you have received the notice under sarfaesi act, then you may have to give a reply within 60 days. 

In the meantime you obtain a statement of account for the repayments made so far and on that basis you may request the bankers\nbfc to restructure the loan and allow you to repay the same at easy installment in future.

If they do not agree then you can approach either DRT or high court for suitable remedy based on the merits on your side.

company would send you notice under section 13(2) 

you have to submit reply to notice within 60 days 

1. Since the NHBC has not yet initiated SARFAESI action by issuing the Demand Notice u/s13(2) of the Act, you can not approach the DRT for relief.

2. SARFAESI Act is a draconian Act for which you shall have to be very careful to detect the legal loopholes left by the NHBC to take them to DRT.

3. Keep records that you have been asking for restructuring your repayment schedule.

4. When you receive the Demand Notice, send your representation u/s13(3a) of the Act immediately.

5. If the NHBC issues Possession Notice, file a Sarfaesi Application u/s17 of the Act.

6. Consult/engage a local lawyer having expertise in dealing with SARFAESI matters to defend yourself before the DRT,

- As per the RBI, the bank should give proper time and offers for the settlement of loan amount.,  on the ground of health and sudden loss.

- Section 13 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act is a powerful instrument in the hands of the banks and financial institutions as secured creditors to take the possession of the mortgaged property . 

- Further, if the borrower does not pay three instalments continuously after 90 days but up to 12 months the account becomes sub-standard and NPA, and further Section 13 (2) empowers the Bank to serve a notice to the borrower for taking possession of the assets held as security for the money lent by it.

- But there is precursor to this action: the Bank shall serve notice to the borrower to discharge his full liabilities within 60 days from the date of notice that should also detail out the legal consequences and penal provisions. 

- Hence by the two directions under the Act, the borrower should be getting at least 17 months’ time before the Bank could proceed against the defaulter.

- Since, you got the said notice from the bank , then either you can clear the dues/NPA amount within this period , or send a reply of the same after stating your inability of pay the loan amount . 

- Further, even the bank is not ready to listen you, then you can approach the DRT . 

Dear Sir,

The Courts and Tribunals are very serious about the recovery of Bank Loans.  U may find out a purchaser and approach High Court and to settle the Bank Claims by arriving at OTS.

It is not clear whether you have received the demand notice or the possession notice. If it s a demand notice, start negotiating with the bank before they take steps for possession. If it is a possession notice, they may proceed with sale after the deadline set. In any case, negotiate with the lender for extension of time for repayment of the dues.

You can only counter once you get notice

Even the email communication is an evidence for having communicated or served you the notice in this regard. 

Dear client,  

I'm sorry to hear about your financial difficulties due to the impact of COVID-19 on your business.

It's important to understand that when you take a loan, you are legally bound to repay it according to the terms agreed upon in the loan agreement. However, in light of the current situation, you may still be able to negotiate a solution with the lender.

Here are some steps you can take:

Review your loan agreement: Familiarize yourself with the terms and conditions of your loan agreement, including the payment due dates and any provisions for missed payments or default.

Communicate with your lender: Reach out to your lender and explain your financial difficulties due to the pandemic. Provide them with the mail trails and any evidence that you've been trying to resolve the issue. You could also ask for a loan restructuring or moratorium, if available.

Seek professional help: If the negotiations with the lender are not successful, consider seeking professional help from a financial advisor or a debt counseling service.

Consider alternative options: If restructuring or moratorium is not an option, you may want to consider other alternatives such as debt consolidation or a personal loan to pay off the debt.

I hope this information helps. Keep in mind that each situation is unique, so the best course of action will depend on your specific circumstances.