Did you get a a sale certificate from the authorised person from bank? Rule 9(9) states that the authorised officer shall deliver the property to the buyer free from all encumbrances known to the secured creditor or not known to the secured creditor.Rule 8(4) indicates that where possession is taken by the authorised officer before issuance of sale certificate under Rule 9, the authorised officer shall take steps for preservation and protection of secured assets till they are sold or otherwise disposed of.The authorized officer is to deliver the property to the purchaser free from encumbrances in terms of Rule 9(9).The physical possession can be taken by the Bank by following the procedure laid down in Section 14 or after the sale is confirmed.
The delivery of the site is the duty of the Bank. Banks to directly take possession of the secured asset under Section 13(4) of the SARFAESI Act and sell secured asset without the interference of Courts or the DRT.
Section 13(4) of the NPA Act proceeds on the basis that the borrower, who is under a liability, has failed to discharge his liability within the period prescribed under Section 13(2), which enables the secured creditor to take recourse to one of the measures, namely, taking possession of the secured assets including the right to transfer by way of lease, assignment or sale for realizing the secured assets.
As the borrowers have failed to discharge their liability in full within the period of sixty days from the date of notice, the secured creditors have exercised their right under sub-section (4) of Section 13 of the SARFAESI Act to take possession of the secured assets of the borrowers. once the secured creditor issues a notice to a borrower to take possession of a secured asset and the borrower despite such notice, transfers the possession of the secured asset by way of lease to a lessee without prior consent of the secured creditor, the lessee of such a lease is bound to surrender possession of the secured asset to the secured creditor.
In your case the remedy is
1. issue legal notice to bank to hand over physical possession to you.
2. If the bank is not act positively approach the DRT file application against the bank to direct to deliver possession of the site.
civil court for damages