क्या हमें बैंक को SARFAESI Notice प्रॉपर्टी पर चिपकाने देना चाहिए | Shantanu Neekhara

क्या हमें बैंक को SARFAESI Notice प्रॉपर्टी पर चिपकाने देना चाहिए
For Any SARFAESI Related Consultancy (Only Paid Service,1st WhatsApp Then Callback will be arranged):
Kutch Consultancy
31 B, NU 10B, Shakti Nagar, Gayatri Mandir Road,
Gandhidham, Kachchh, Gujarat- 370201
Mob/WhatsApp : [phone]
Email: [e-mail]
#kutchconsultancy #SARFAESI #NOTICE #banknotice
Yes, banks are permitted to affix a SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) notice on a property. This is part of the legal process under the SARFAESI Act, 2002, which allows banks and financial institutions to enforce security interests without court intervention.
Here’s an outline of the process:
Notice of Default: When a borrower defaults on a loan, the bank can issue a notice under Section 13(2) of the SARFAESI Act, demanding the repayment of the outstanding amount within 60 days.
Affixation of Notice: If the borrower fails to repay the amount within 60 days, the bank can take possession of the secured assets (the property in question). As part of this process, the bank typically affixes a possession notice on the property, notifying the public and the borrower about the bank's claim.
Public Notice: The bank also publishes the possession notice in leading newspapers to inform the public.
Taking Possession: After the notice period, if the borrower does not respond, the bank can take physical possession of the property and proceed with the sale to recover the dues.
This process ensures transparency and gives the borrower a fair chance to repay the loan before the property is taken over and sold.

[@KutchConsultancy]

🎉🎉😢