Solution required ..DRT,DRAT or Negotiating with Bank
I have recieved sarfaesi notice recently for my outstanding due amount of 30 L.I paid my dues regularly for for first 4 years and then irregular payment on last 2 years , still i have 4 years to complete the loan tenture. Basically I had last 6 months EMI due as arrears and I missed to credit the minimum due amount (I.e 3 months emi as requested by the bank) on 30th of last month instead i paid it on 1st day of this month at 3:00 pm, due to this delay my account became npa and bank said they could not do more on this so they sent a sarfaesi notice .The reason for this delay is , I was jobless for last 3 years (The loan was bought when i was working in abroad)but just got a job again in abroad and my salary is more than double of my current emi (my emi 72000, for Housing Loan 35 L+ and Personal Loan 10 L=45 L, for 10 years) and have all evidence to defend my statements about my current and past employment status. In a separate note that the mortgaged property is worth of more than 1 crore .
I called the bank after receiving the notice and informed them about clearing my remaining arrears (i.e my last 3 months dues) by end of this month and thereafter regularize my accounts ..the bank officials agreed and they asked me to come to their office to submit a written statement saying that i would regularise the loan from next month and also will clear all my current pending(3) emi arrears by end of this month .. so that they will not take any further action with sarfaesi act.
In this time, I have following questions based on my aforesaid situations.
1) After I clear my arrears completely, Does bank has power to declassify the account which is already been marked as NPA, already served a notice against that account?
2) Does bank has power to accept the monthly dues (as it was before) even after the account is marked as NPA? how will i ensure they will not take any action based on already issued sarfaesi notice when i pay my monthly dues in future?
3) As I mentioned above about the total outstanding is 30 L as of today, how much the minimum amount, I should pay to the bank in a single settlement, inorder to avoid any legal proceeding by the bank incase if i am able to arrange bulk money ?
4) If i approach to DRT and DRAT with above said reason , how many extra days, i will get it because i can deposit 50% of my pending dues if required but i can arrange required money during the extra time frame as i am not happy with the way the bank treated me ..however negotiating with bank will give me temporary relief and avoid my name in the newspaper as I may need more than 2 months to arrange required money to clear all my pending dues if at all i wish....
so what is the best solution in this situation.. please suggest.
hope to hear your valuable suggestions.
Thank you in advance for your time and response.