sarfaesi-act-and-sarfaesi-rules-faq

FAQ About Powers of Debts Recovery Tribunal

Answer: The Debts Recovery Tribunals, in appropriate cases where strong case is made out on behalf of the borrower or any aggrieved party, have the power to stay the auction of the property

Answer: The Debts Recovery Tribunals, in appropriate cases where strong case is made out on behalf of the borrower or any aggrieved party, have the power to cancel the auction of the property.

Answer: The Debts Recovery Tribunals, in appropriate cases where strong case is made out on behalf of the borrower or any aggrieved party, have the power to cancel the sale of a property even after the sale deed has been registered. In the case of Asoke Saw Mill (2009)8 Supreme Court Cases page 366, Supreme Court held that even status quo ante can be restored by Debts Recovery Tribunals in the case of sale by secured creditors

Answer: The Debts Recovery Tribunals, in appropriate cases where strong case is made out on behalf of the borrower or any aggrieved party, have the power to order the purchaser to give back the possession of the property after cancelling the sale.

Answer: The Debts Recovery Tribunals, in appropriate cases where strong case is made out on behalf of the borrower or any aggrieved party, have the power to direct the Secured Creditor to refund the sale price to the purchaser.

Answer: The Debts Recovery Tribunals, in appropriate cases, have the power to direct the Secured Creditor to pay interest to the purchaser
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