1.first of all take stay order from DRAT by filing appeal in it against DRT order.

2. r u and ur son guarantors for ur husband in loan amount? tell

1)since loan was taken by your late husband in his name on his demise your son would be liable only to extent property is inherited by him .

2) DRT will fix reserve price for sale of factory and land . bis would be invited and factory and land sold in auction to highest bidder .

3) if there is shortfall and no other assets in your husband name you wont be liable to meet the shortfall if you have not inherited any assets from your late husband

4) you wont lose your household items

You can file a petition on the high court and get it stayed else they will break open the factory and recover from the same and get the premises attached

you and ur son will liable for loan recovery amount as per shares inherited by both of you from property of deceased husband/ father respectively.

Hi, if the bank people first recovery from the machinery and other items if they are unable to recover they go for other assets as far your narration you don't have any other property then they can't do anything and bank will treat remaining amount as a bed debts and your son is also liable to pay the amount which is he inherited from your his father.

The Property your son has inherited by his father, liabilities are limited to that very extend only.

No Car and No household items shall be considered as to be liable to pay the amount as per court order.

Since the other property such as factory and all are included as per you have stated, I think it fit n proper to file an appeal against the order of DRT and should also seek a temporarily injunction (Stay) order from appellate authority.

Once you lost the DRT case you can do nothing. The Bank will take it own course for recovery of money. You cannot appeal. The Bank can use SARFASI act only for secured debt and not for unsecured. For the non secured properties they can request the court to attach your properties, but cannot sell the same. After recovering 10 lacs if the banks still fall short of the funds, it can request the court to attach your movable and immovable properties too. You will not fall into police case, since it is purely civil in nature. Regarding car, since it is already mortgaged in some mother bank, the present bank will have a second charge on it.

As advised by Ajay sethi, If it is a ancestral property, the bank can recovery only to the extent of the share of your husband and not more than that. You have not stated whether you and your son stood as guarantors to the loan.

1. ur house hold items cannot be attached by DRT.

2. car of ur son can be attached by DRT.

1. You can appeal against the said DRT Order before the DRAT, if you thing that you have not got justice,

2. Your late husband had availed loan by mortgaging a property and since recovery order has been issued by the DRT, then it is clear that the Bank had filed Original Application to recover the outstanding by selling your husband's property,

3. The Recovery Officer will take possession of and sell of all his property till the outstanding of your late husband is recovered,

4. You and your son will not be liable to pay the loan outstanding of your late husband if there is no property left by your husband for your inherting the same,

5. Any property which have been purchaed and will be purchased by you or your son can not be claimed by the Recovery officer of DRT or the lending Bank.

Deare Client,

You can file appeal before Bank DRT appealate Tribunal, but at least 50% of loan amount should be deposited. The factory will be sold and the amount will be realised to recover the loan. Further if there is any collateral surety, the surety propety shall be forfieted and sold for the purpose to meet the laon. No persanal belongings will touched.

1.no.

2.yes.

3.no chances of arrest for you.

4.car can be attached.

5.no liability to ur son as he inherited nothing.

6.yes, DRT will send notice to you

1) you should file an appeal against impugned order . your husband was sole proprietor and carrying on business . it is your case that you have not inherited any property of your late husband . you cannot be saddled with liability for repayment of loan . the bank can sell the mortgaged land , stocks etc and recover shortfall if any from guarantors. you will get stay from DRAT

2) section 25(b) provides that RO can proceed with recovery in any of the modes either by attachment or sale of property or by arrest of judgement debtor and his detention in prison . generally recovery is done by attachment and sale of mortgaged properties and sale of stocks

3) bank cannot recover eon car bought by your son under bank loan . however your movable property can be sold as per recovery certificate issued by DRT

4) your son will not have any liability since he did not inherit any property from your late husband .

5) once RC is issued for execution case is placed before Recovery officer . notice is issued to the judgement debtors . you can attend DRT proceedings before RO

Hi, it is for the recovery of the amount borrowed after auctioned the factory premises they will go for your personnel assets according to you, you don't have any movable or immovable property expect the things you have mentioned in your narrations and more over after your husband died the bank has not made your son a party defendant so they can't claim amount as against your son and may go for recover as against grantor and according to you there where about not know. In this circumstance it is very difficult to recover the amount to the bank.

1. The stock, plat and Machinery etc. of your husbands factory was hypothecated and the said land was mortgaged. Your name has come alongwith your son as the legal heirs of your deceased husband. Jail term takes place for doing some criminal act. here you have done no crime. Rest assured that there will be no police action against you forget about jail term,

2. As stated above, the Bank has already got recovery order to recover its dues by selling your husband's property. There is no question of any police case against you if you do not inherit any of your husband's property,

3. Recovery will be conducted by attaching the property of the Borrower or his/her legal heirs and in case the borrower of lhis/her legal heirs refuse to pay the debt, arrest can be made. In your case you have not inherited any property otherthan the closed factory which you are willing to surrecder. Write a letter to the Bank stating that the Bank can attach the factory and land mortgaged with it to sell and recover its dues and that you have not inherited any other property from your husband,

4. The Judgment refers to the property inherited by you from your husband and not the property acquired by you with your own income,

5. There will be no liability of your husband's loan on you and your son if you two have not inherited any property from hi. Your liability is strictly limited to the property you have inherited,

6. The Bank will issue and publish Sale Notice in newspapers from where you can find the reserved price. Moreover, the Bank is bound to inform/refund you the excess amount left with it after realising its outstanding.

7. Do not be panicky at all. Nothing will happen to you other than that the Bank will attach and sell all of your husband's property to realise its dues. You are further advised to write to Bank requesting them to sell off your husband's property and that apart from the said factory you have not inherited anything else from him.

Dear Client,

Ans.1 - No

Ans.2. Yes-

Ans.3No body can arrest you as you are not the person direct to the Bank, the Bank has not granted you loan, there is no personal liability at you.

Ans.4No need what ever judgment it is only for the properties of your husband,

Ans.5 There is no liability of your son directly or indirectly.

Ans.6 Yes every proceeding should be communincated to you as you are a party to the suit filed by the Bank.

Hello,

If you wish to refrain from filing an appeal if you have the assurance of no arrest you may choose not to appeal.

In fact the DRT has ordered to recover the debt only from the assets that were mortgaged and if any shortfall attach other immovable items.

Therefore the liability is limited to the property and not yourself in person.Do not worry about being arrested or your son's life being affected especially as he has no inheritance from his father.

In case the bank auctions or sells the land and the factory and the machinery with it and the proceeds are worth more than the debt to be recovered you will be informed of the details and the excess shall be paid to you.

The car you son has purchased on bank loan can not be attached and sold

The pledged property will be attached auctioned and sold.if you don't need it get a stay from high court

Dear Querist

My opinion on your Queries are as under:

Q1. Is there even the slightest possibility of jail or police case on me?

Opinion: No there is no procedure

Q2. Can I reappeal (Since I am already 60 years old and financially weak) I don't want to go for this option if there is no possibility of police case / jail)?

Opinion: yes, you can

Q3. It is mentioned in the order that "Recovery officer shall realize the amount in the manner and mode prescribed under section 25 and 28 of recovery of debts due to banks and financial institutions act, 1993", which I googled and found that arrest is also possible. Please guide about this.

opinion: Only the DRT take action against the Guarantors and not you.

Q4. The judgement mentions that in case of deficit, the amount will be recovered from movable/immovable assets of me and the 2 gaurantors. What does this include? (I currently possess tv, fridge, computer, washing machine and a EON car under bank loan in my son's name). Can they acquire any items I purchase in the future as well?

OPinion: As per section 60 of CPC and section 31 of sarfaesi act the Bank can not attached your personal things.

Q5. What liability can come on my son, since he did not inherit anything from his father? He is working in a private job currently and was in 6th class when his father expired.

Opinion: There is no liability if he not inherit any thing.

Q6. Will I be informed about the details of the sale when they sell the piece of land? How I will get to know the details of the transaction so that I can get any extra (over-recovered) amount coming from this deal?

Opinion: The bank/Financial Institute is bound to give a notice to you by way of publication or through written notice via speed post or registered post.

Contact a lawyer personally with all the documents, it will be better

1. it is settled law that in failure to repayment of lone no coercive action shall be taken against the debtor to such extent that it will amount to be an offence.

2. legal representative shall be liable to the extent of properties which he received in inheritance .

3. legal hair's personal properties are not liable to be attached or sale in repayment unless and until properties he received has misappropriated.

4. you can approach in appeal and set forth your defense.

5. at this stage not to sell any property.

6. proper notice will be serve upon you by DRT.

7. till then consult any lawyer and settle this issue according to the law.