DRT and SARFAESI Defence — Options for Borrowers in Mumbai

The SARFAESI timeline

1. Section 13(2) demand notice — 60 days to pay
2. Section 13(4) possession — symbolic possession after 60 days
3. Section 14 — physical possession via Chief Metropolitan Magistrate/DM
4. Auction under the SARFAESI Rules

Borrower's remedy — Section 17 SA

A Securitisation Application lies before the Debts Recovery Tribunal (DRT), Mumbai at MTNL Building, Bandra (E). Grounds we press:

• Loan account wrongly classified as NPA
• Procedural violations in Section 13(2) notice
• Valuation and reserve price manipulation
• Auction sale without 30 days' notice under Rule 8(6)

Appeals

Appeal to the Debts Recovery Appellate Tribunal (DRAT), Mumbai within 30 days, with 25%–50% deposit (waivable in part).

APS Law — DRT and SARFAESI advocates

We represent MSMEs, promoters and guarantors before DRT Mumbai, DRAT and the Bombay High Court in writ jurisdiction.