Initiation of recovery proceedings .....
As and when, proceedings for recovery initiated after issue of notice under Section 13(2) of the SARFAESI Act, 2002, then jurisdiction of Civil court or any other authority including Consumer Forum is barred to entertain any matter regarding recovery of loan amount by the bank or financial institution in view of section 18 of the SARFEASI Act read with section 34 of the SARFAESI Act.
In holding this view District Consumer Disputes Redressal Froum stated in a consumer complaint No.197 of 21/03/2018 against State Bank of India, Retail Assets Central Processing Centre, Ludhiana stated that we are fortified by law laid down in cases titled as Indo Pacific Housing Finance Limited and another vs. Gopala Shetty -2014(2)CPJ-638 (N.C.) and HIra Nand Lall vs. Santosh Kumar Badhwani and others – 2013(2) Banking Jugement-505 (Patna High Court) as well as Central Bank of India and another vs. Ram Chandra Sahoo and others-2011-AIR-(Orissa)- 164(Orissa High Court). In view of bar of jurisdiction of Civil Court or Consumer Forum regarding recovery of loan amount by the bank after issue of notice under Section 13(2) of the SARFAESI Act, certainly this complaint is not maintainable before this Forum.
Complaint dismissed at admission stage without any order as to costs. more
In holding this view District Consumer Disputes Redressal Froum stated in a consumer complaint No.197 of 21/03/2018 against State Bank of India, Retail Assets Central Processing Centre, Ludhiana stated that we are fortified by law laid down in cases titled as Indo Pacific Housing Finance Limited and another vs. Gopala Shetty -2014(2)CPJ-638 (N.C.) and HIra Nand Lall vs. Santosh Kumar Badhwani and others – 2013(2) Banking Jugement-505 (Patna High Court) as well as Central Bank of India and another vs. Ram Chandra Sahoo and others-2011-AIR-(Orissa)- 164(Orissa High Court). In view of bar of jurisdiction of Civil Court or Consumer Forum regarding recovery of loan amount by the bank after issue of notice under Section 13(2) of the SARFAESI Act, certainly this complaint is not maintainable before this Forum.
Complaint dismissed at admission stage without any order as to costs. more
Viewed by 1126
View all 11 comments Below 11 comments
[ ]( # ) [ ]( # )  [ ]( http://r.sigma-institute.website/mk/cl/f/o74PxhsylwIX7tRHyqSfQCq44ugQfGC4n6zh7w_fjNoPvOvMPfOnOhTkjNjEmfkP170RVEGOJwTP8ksYGDkrq8UrRVUqhzL7sSs4hpm-dVcnXFDFTLUbGNGp13LY9Gg1g5gUMX5PNBNSe-Li6RRbIES1OBlNjjhXpxT1PIJm353Yd_dU_UkLSmzeCJWUm4GBfYERcyiI-2CADT2e4EuDGVkxqyagtbU9wwEWvtcOSV5wBwOzYVS3Ezc9i7hd9odYAA4GK14-cIvzXQOHT16DSh6UYdBbRYWtKvhxdd2d_avjwuDIBX9HGhyqpyxcYUcxe4HAGc0tzT6aEA0hFYO45XwM7ArWU5Q-Vg664MAjrHlOffvX2A )  [ ]( # ) COMPUTER FOR ONLINE CLASSES [ ]( # ) [ ]( http://r.sigma-institute.website/mk/cl/f/rcTu5LMTFURR8uuMNo1Gvzu9bw1FdTX7TCvj6I2W_GcyF7EyRFFdxWRq368blxxCS0RlJL9belH6UPPqqoc60nlsoOZNIbQC0lWzTQRdYYsvF8tlRW0_zjyYKXzpksTumWhocDyUeNukWJn9qo0c78L3NudorIU5qdghgEQnYTXM5e_XUxxQuN-jP5qK4sNZxDk9S1Y4lFNvhmy7744zuy-vJgwD5bNNQz790bfpOYGc-8dbFpJvWQy1RU22XN0B7B0IIdN-3yf9pASCj0rcncmzJ-dhQ3TdYWp6kbBldUQtraZopdgQvNbo-oEVvCIoDsVWLJL5X-urbRz0o7iZwRJJMCSMb1Cj_SBc-LgjLFuiPoTo1w ) [ ]( # )  For online classes we are providing a complete set of computer with UPS in following specifications: Monitor 15"; Camera & headphone CPU: 160 GB HDD, 2 GB RAM, Core 2 duo Keyboard, mouse UPS ( Electronic voltage stabilizer ) This complete set we offer pan India for Rs. 21000/- ( All inclusive ) One extra 160 GB Hard disk will be supplied free of cost within 5 years, if present becomes in sufficient. All carry "M.I.'s" 1 year warranty.    [ ]( # ) [ ]( http://r.sigma-institute.website/mk/cl/f/utIM9XFUG6EcId2XVnvaKs1_Kj8gKvu2NQEMoiN2tfnlMoYcEsZ49PliXfMflj8g6SI6cPJxvDV6Z0X5tQ9ZDFJoZhtpbbU4TwaOjkreCNMo_74ZfD-atBZTRTi_Eslb9Kj1DLz0Q_n92UW-Lq_aResfugcd_bP9Kuz_tzTySZCKuarZ1dUZT_sUujlCCeQNnM2Uewpv223ARMmSA-oBX1sZQWgoe35T-kCMGI6Q7xHgeuN1FTd3I3wgy6VwfpGl9clv47wW0ZhJRT9tH0sYsGXqjsjl7_FiiXZgSYFh2B3oU37eJ1ux00ZnXHMbJLxyTyo3aKSztQ5jQSlSGgIHD967lhXaOIfmMloMsjgSC77DLcSSKA ) We understand the hardships...  Hardships of the parents, hardships of teachers, hardships of every such individual who is now compelled to work from home; be it student or the the professional now computer set is must. we decided to help all such people by providing the complete set including UPS to save your machine for longer life. In comparison to laptops desktop is robust & long lasting and also cheap & best ! For getting this deal, please click the button below:  [ Button ]( http://r.sigma-institute.website/mk/cl/f/J1vzoKbEmfL4N6ZLbDtYlDxPZYTXpvZMaE3WJSxZ1LdSO0_gGAguLCunlZ7IYJ7TtwHio4fkDGRX4dLZJO3U4OJxoQgyDiMM_7rscXfIXyW7T4yWlt-SeM2ut7pwpeQLba-VOXUMQcfCBO8oWR2sziQ2i3vOc_INHoVXnaQK9BcRUAXteLICqCQv345hKrMcTrPQWFaMgkURVdjpqor0w-0_hQ-vAv2R8G1C6bR_VCbGv6kxHuZmbt5h61pNc2pqOwFC6C3tcY_3KFkYnO-Ko6TDlAQE_-LmQ8tO2A4ie-4Rbd1n2qtVAo_Slc2QLC0Qnnh9D94vIHP8LuQPXG5VZZUzSPYYQpxrmgkR00zvQJty5o2diQ ) [ ]( # ) [ ]( # )  SIGMA INSTITUTE Delhi Cell: 9899075161 [ ]( http://r.sigma-institute.website/mk/cl/f/QJuY28OOwM2ARcKzc5lUdr8xBhFSBL5TS1Lnsr5NsU5BtztLBrOTG9hrjaXMuZd4Ip6y9EwqdYUMPFRWzamdRPu7VC5PioLig1WzOdIs9Gc_AqoLVdnlnthVLbUNWD-oxPJYSHcI09MjsA_ltswxW_Wro8qoDnirbKu-sAmdskKotfiykoVpsgqUEVIj4FLFG41zTwYPuihdfJR0uX87MPPtF-PWMTnDNGBQZSRHxag-pX29vLXJaQSqYuNBSR14-SRcZnj2mzhAhsO0JKHuQ9LygXJZ_gtFuv4dd0PGjViyiTqMpCkReph7iRIA3INASg2QgxDy9r4mpYV7otJlGOJm7wt7Rg ) [ ]( http://r.sigma-institute.website/mk/cl/f/M069BzXdGIfBQk5kOJpeaXwyFA2MREoE7zojuf1WxiTBYoR_k5s3GICkuRpOhF-Zqzb_rc5kplKKxEVZbV5vUsg58fTZV0NxOWLWDlXjKcU_kd5weIN2lu-mNpuRQXet-47cQ-fNHjRjrJCzIGXxBtQO8DCsNP-o2OY2zvJam3HmnoLHmJCtwIK6-Cnj4WNde9p11jLDrEsfCVOc2WkzQyVLRLNBgCaeIC5JqSijjCndjGiUuWWyFG4q_1-imf1CRdkZ4bnP1hUmDxZ_TS5bMJSv6nB07wul4VHC7K3UahlEj5c6Tk3Ci1DXdb7TT0wzYAYt7FDXac8wXhnyFh-5k3o8vQ ) [ ]( http://r.sigma-institute.website/mk/cl/f/yaJhtYiFUHN2IQ7Rl6G_lO6GGlN1q9hP7yGJ4JfbO_Ug656AMMdjScTgXyFXMZcdsurNuhperlA4391mZvJnunGVUuwpIPWTU-uMf3szQt5R2hjtD46yvEFngvyl61ZM_HVf8PBnWvnfR3da0ojjtVj9jlOqiBTPArgYOsPeeuNw_QBwmD5Zs2o-FDXFyQeUnPzKIDAdestQOTcu-6cdbX0ELJjmxqYpNq653vGdrH-f0EfW0Kag8n6_8XHdgVJ-hYxBK_Lg2NmkzL07c1_LBuSQYhdZTIOGR8gRAkPCEWy58JgK47cM_-uVrOZeyLnR324bsxX3vExmkvV7ucl09H4 ) [ ]( http://r.sigma-institute.website/mk/cl/f/4lgYjHyde_u6oQ2xUW7jA3M_e_vKOnweDQG1Nsa-i1warh5jmfmBBvzI6hK5l-MVMtsg0_Md2sWs6FNh4C6OPe6NrXx9bO0tmpR8LgiBaA5cTUov-cQwFlaOrPoKI8tz64tzPcXGT_364-7eTFAPZrwQI-RdBUTo5huMA06iop4Y5A3UI_6FwBuC2dfb0W5tqYviBYruNubznWsknUd2PdlnmCe1q-6OZR-NrLCL8N3XrlOMZ9-z3lDGY9KeJNiUlCP9N6ya4ctOEJuJU9px27IToUUdBeUKIyY7NR0FcMYtbX6hl5SyRY10OnYSKHWEVFFVZWD3SUVoprh4uvffZY6YKQcQjI9ALUny3hQ ) [ ]( http://r.sigma-institute.website/mk/cl/f/UFOX1pRs0NAgP0_WSZTf9eUBn3k2jbuOYi1d4Ur81xEYn5jWiHgXUT0nIldR6ny89XwBzLhXJXGnAYYym75ApMKlKqm_hMc6oDki2GwENKGhjoCHXQtnA0q33cmJ_3DbhBdDdoSoKHB4P2OBwg7RkmqS_1bOwQjNVpizT2NNY-RMI7cvEBcgvSBh-QBm2f81EuWQvSLHbYHIcdW33ORJbSMvqgcE9KM9dNbHsmArDGCbWFDpIGI3erLV5bKQcWFK_dxWz8aXHTpPraBkRY3i9xs7cLujQJTW7DZtq5hqg63UTK8WJ5IJSXKmx7wlwDTAvBnFEDfjx4gc9ZgDgOlRfHyMlOJwAQ ) [ ]( http://r.sigma-institute.website/mk/cl/f/VUpMTwMjHzuF_HyMTMZye3WGPZcTFMw8gPilH0VGWNe7tUcdyCH6p8oqtWZNp_PoqkgMNfLek577I7rxVYIZ7_Kbo6pAtajrgZ7vjyinb8r4SsYwKMPP7nh1zYqlpBnRfs9soD4PipNRwtPj8efKMtOMFoO9XDf05bfQTh1x92gofunGTC8E2h-2uIG72u2IYB_zJYMwzP_4dTGt4Zv3JYIQz0OByklsZGaQi3ktC5yKq5qrXatvVWY5XcrBL58T5jTZUeyETAcuhPcljy2h4RtriR0HVNvkxy7WIBvqG2dUNO8aBHh4YKjMLtt6F9kLCFxTdHqUNrOUbI_h9NdvBdp9fKfFl8kI_EjQ2ncCKoAtRBhEMzukHfpz0SfmY44RrNZ4aE4obSt_-SnaXOc ) [ ]( http://r.sigma-institute.website/mk/cl/f/ZJ0RsG2-b5iNxBz9sDroKGsKHuzw9yO6VJTGt3ZVBYaqL3D5zCTSC1jLmNwBUTn0gBYHzlrigGeQHjaIjAZfS8dPqWh-PNE82G3V1Okv2aL6y0vS7jq-AMGkjdJuxi2TLxXoImA2GCPD73inB1y7gxZo9HSQPkkMq8EZazn6cxK0JpboVuUv9CIj2nq1xvEgFDkBCMtzOxPt2ayuq8QzMFN5xidtZYuFVXAVMi0zOmOGHl56zSsf51dC_LULVCCgubs1dwL_p_WvQC4kMcIBL_z2jPRbHNtDpYUsqpJwV2C-FbTz6X5xL2cimjP6GwM6jLA-PpchYgYJ50M73rKaKBFKXJO4CzvsGgPfZCvi ) [ ]( http://r.sigma-institute.website/mk/cl/f/7V3fLjNDx0PBvF7rW3MYKAMV_78KMvY7o6qPV75fVbGH833GaHjKOBVBD7UDnTpDLBvq3_8JfHVXmE5pjPQbbSvv_RJZGcU3_mgDkAQuR64tqJD-M10WvyYt-25kmmM84JKj6BMUrCR0-Ugfg7NNOK1B_-Si-A7iXVb6UkQRmrZ9qUVF7X18pVwmviDLzSw8rfeZtqdpR6xBGqUYb2lHmNfYBbrwShMWzLTA-zMUCJfZVH_7cWX4DdmQ6AhiJbnOq-5AISDhIgnUg0YCjgxXAzbTU8AJwdL4X6dSV4XZmoAHF-aBdWQ2Jp2A1k6epITbxpM5GXDJyvxNyqoEjbBToeO4FYpdsZarrqoK )  [ ]( # )  You received this email because you are registered with Sigma Institute  [ Unsubscribe here ]( http://r.sigma-institute.website/mk/un/ZqWZOYfKjkRqh3jI9Z3EIcnlvVVjil3Clyctx7lxr4mSeKMvFLEHMr9cwXPxORKmGbArO9Wzsg4DL8KLnc7mREwycnj4KISQ-cOf3dXiMr4TPPQyzAqwOy4p7Jea45KWsVBwOPGKOshlNeO5zzwUFTSsIxeBK0l5Y-gBvZ-sWVtx6-Qr9Lf3vLgokXl0wP37fS_rdOeDK_-cfrNV0ROfzyV_j90 )  [ ]( # )  © 2020 Sigma Institute  more
Oct 31
This can be and Must be Challenged - either in SC or National Commission The Basic Factor is "the Consumer Act Clearly states that the remedies available are over & above" of all other remedies and the This is to protect the basic interest of the "Consumer" . As far as SARFAESI Act is concern it is Commercial to settle the matters of TWO Commercial Organisations, totally of Commercial Nature. Like that the Bar of Jurisdiction is concern it also prevails to Co-operative and such other Acts which does not mean that the provisions of IPC and Other Special Acts like Money Laundering, benami Transactions, are also Banned. This is the first-ever view of the Consumer Forum that I came across. Any other verdicts of National Commission/HC/SC to be observed and required to be Reviewed and/Or Contradicted. The Simple fact to be raised that like that of NPA given on Phone Pe Loan to selective persons/Businesses by the Banks including Private and Public Banks, clearly envisaging the wasted interests of the lender and Lendy, the Burden should not be shifted to the Poor Consumer only because of the reason that they are NOT Organised. Good case to fight for. more
Sep 03
India is being run on out dated laws and judicial system of British Era. The Advocates and Judges fully exploit the situation. There are grey area in every Act which provide golden opportunity to legal fraternity to make fortunes. The judges are not accountable for any wrong judgement and selling stay orders, bails and unlimited adjournment. The Debt Recovery Tribunals were established for speedy recovery of loans from defaulters. But over the years, these Tribunals became epitomes of corruption and inefficiency. This emboldened the the unscrupulous borrowers to loot the bankers/financial institutions. There is need to change the existing laws in a massive scale and cleanse the judicial system to make it accountable. The working days in Courts should be increased to 250/year. There should be simple procedure to remove corrupt, indisciplined and under performing judges. The age of every case should be fixed and the number of adjournments should be limited to 3 max. The judges passing wrong stay orders and granting bails should be dismissed from service. The transperancy in appointmentsand promotions be ensured. Presently, the situation is so bad that even the judges of High Court cannot write judgements and the Supreme Court had to return the ill drafted ones to 4 High Courts. People not fit for the post of clerk are getting selected as 'honourable' MY LORDS with political support as well links with the members of higher judiciary. more
Sep 02
There are several lacunae in the law and more particularly in SARFEASI Act. Government should take immediate step to overcome that and to empower the Banks. more
Sep 01
definitely recovery of loan is not related with consumer forum, more over it is clearly mentioned in the SARFAESI Act that no court lower than high court can interfere in the recovery process. more
Aug 27
