SARFAESI Act Property Auction Kolkata | Bank Auction Guide
Complete guide to SARFAESI Act property auction in Kolkata. Bank auction process, borrower rights, remedies.
Table of Contents
SARFAESI Act Property Auction Kolkata 2025
Need Legal Help? Talk to Advocate Panchanand Shaw
SARFAESI Act matters require urgent legal attention. If you are facing property auction by a bank in Kolkata, contact Advocate Panchanand Shaw at panchanand.com for expert legal assistance.
Need Legal Assistance? Contact Advocate Panchanand Shaw
Need Legal Help? Talk to Advocate Panchanand Shaw
If you need expert legal guidance in Kolkata, schedule a consultation with Advocate Panchanand Shaw. With years of experience across criminal, civil, family, and property law, he provides personalised legal solutions tailored to your needs.
Need Legal Help? Talk to Advocate Panchanand Shaw
Phone: +91-XXX-XXXXXXX | Email: info@panchanand.com
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Frequently Asked Questions
Q: Can the bank auction my property without a court order?
A: Yes, under the SARFAESI Act, banks can enforce their security interest without court intervention by issuing notice under Section 13(2) and taking possession under Section 13(4). However, the borrower can challenge these actions before the DRT.
Q: What is the time limit for filing an application before DRT?
A: The borrower must file an application before the DRT within 45 days from the date of the bank's possession notice or action.
Q: Can I stop the auction by paying the overdue amount?
A: Yes, under Section 13(8), you can redeem the property by paying the entire outstanding amount before the sale. Once the auction is conducted and the sale certificate is issued, redemption is not possible.
Q: Does the bank have to give notice before auction?
A: Yes, the bank must publish an auction notice at least 30 days before the auction, giving details of the property, reserve price, and terms of sale.
Need Legal Assistance in Kolkata?
Advocate Panchanand Shaw specializes in Property Law matters at the Calcutta High Court and all Kolkata courts. Get professional legal counsel tailored to your case.