Read detailed legal questions and professional answers provided by experienced DRT lawyers to help users understand their consumer rights, legal remedies, and court procedures.
Question:
Can I challenge a bank’s possession notice before the DRT?
Answer:
Yes. A borrower or another affected person can challenge a possession measure taken under Section 13(4) of the SARFAESI Act before the Debts Recovery Tribunal. Section 17 provides a period of 45 days from the date of the challenged measure to approach the competent DRT.
The tribunal examines whether the bank action complies with the Act and applicable rules. A demand notice under Section 13(2) alone generally does not provide the same basis for a Section 17 application. The notice, possession action and relevant dates must therefore be examined carefully.