Practice area

SARFAESI and debt recovery lawyer in Bangalore

Borrowers, guarantors and lenders in recovery proceedings, SARFAESI actions, DRT and DRAT matters and related writ petitions.

Banking and recovery disputes move on tight statutory timelines. A notice under the SARFAESI Act, an application before the Debts Recovery Tribunal or an auction notice can each be challenged, but only within the time allowed.

What this work involves

• Notices under Section 13(2) of the SARFAESI Act, and objections under Section 13(3A)
• Applications under Section 17 before the Debts Recovery Tribunal, and appeals to the Debts Recovery Appellate Tribunal on the pre-deposit the law requires
• Possession, auction and sale: compliance with the Security Interest (Enforcement) Rules
• Recovery applications before the DRT by banks and financial institutions, and defence of borrowers and guarantors
• One-time settlements and negotiation with lenders
• Writ petitions before the High Court of Karnataka where an action is without jurisdiction or in breach of procedure
• Wilful-defaulter classification and fraud-classification challenges
• Cheque dishonour and criminal complaints connected with lending

Frequently asked questions

Within what time can a SARFAESI action be challenged?

An application before the Debts Recovery Tribunal under Section 17 must be filed within forty-five days of the measure taken. The period is strict, so advice should be taken at once.

Can a borrower negotiate a settlement during recovery?

Yes. One-time settlements are common, and a well-prepared proposal supported by documents often helps.

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