Banking · SARFAESI · DRT
SARFAESI and DRT Lawyers in Bangalore
If a bank or financial company has issued a SARFAESI notice, taken possession of your property or filed a recovery case, we can help. We act for borrowers, guarantors and property owners before the Debts Recovery Tribunal (DRT), the DRAT and the High Court.
Overview
Protecting your property in bank recovery cases
Under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), banks can take possession of mortgaged property and sell it without going to court. The law also gives borrowers rights and strict time limits to challenge these steps.
We review the bank’s notices, the loan documents and the valuation. We then advise on a reply, a Section 17 application, a settlement or other remedies.
What we handle
Our work in this area
These are the matters we see most often. Real cases rarely fit one box, so ask us even if yours looks different.
SARFAESI defence
- Reply to demand notice (Section 13(2))
- Objections under Section 13(3A)
- Section 17 application before the DRT
- Stay of auction and possession
DRT and DRAT
- Defence in Original Applications under the Recovery of Debts and Bankruptcy Act, 1993
- Appeals to the DRAT (Section 18)
- Recovery certificate and execution matters
- Interim relief applications
Settlement
- One-Time Settlement (OTS) proposals
- Restructuring requests
- Negotiation with banks and ARCs
Property owners and buyers
- Third-party rights in mortgaged property
- Auction purchaser issues
- Tenants in secured property
Co-operative banks
- Disputes with co-operative banks
- Recovery under the Karnataka Co-operative Societies Act, 1959
- Writ petitions where needed
High Court
- Writ petitions against bank action
- Challenges to Magistrate orders under Section 14
Courts and forums
Where we appear
- DRT-1 and DRT-2, Bengaluru
- DRAT, Chennai
- Chief Metropolitan Magistrate / District Magistrate
- High Court of Karnataka
Good to know
Things to know about SARFAESI cases
60 days to pay or reply
The demand notice under Section 13(2) gives 60 days. You can raise objections to the bank in this period.
45 days to go to the DRT
A Section 17 application should be filed within 45 days of the bank’s action, such as taking possession.
Pre-deposit for appeals
An appeal to the DRAT needs a deposit of 50% of the debt. The DRAT may reduce it to 25%.
Settlement is often possible
Many banks consider One-Time Settlement proposals, even after recovery steps have started.
Contact Base Legal
Phone +91 63660 42792 or +91 81974 06465 · contact@baselegal.in · Monday to Saturday, 9:00 AM to 8:00 PM