Read detailed DRT legal questions and professional answers provided by experienced DRT lawyers to help users understand banking disputes, SARFAESI matters, debt recovery procedures, and legal remedies.
Question:
Can DRT set aside bank action under SARFAESI?
Answer:
Yes. If an DRT concludes that bank has proceeded in violation of the provisions of the SARFAESI Act, it may declare such measures void, direct possession of the secured asset to be returned to borrower and/or management of the same be returned to borrower, and issue any other order it thinks fit.