You can file an application u/sec.17(1) of the SARFESI Act in Debts Recovery Tribunal.

Right to appeal.--(1) Any person (including borrower), aggrieved by any of the measures referred to in sub-section (4) of Section 13 taken by the secured creditor or his authorised officer under this Chapter, may make an application along with such fee, as may be prescribed to the Debts Recovery Tribunal having jurisdiction in the matter within forty-five days from the date on which such measures had been taken.

1) what is total amount due and payable by you to coo operative bank ?

2) have you defaulted in payment of loan installments./?

3) it is only if you default in payment of loan installments would bank take recovery proceedings .

4) prior to taking recovery proceedings notice must have been issued by bank

5)Bank initiates SARFAESI Proceedings by issuing Demand Notice u/s13(2) of SARFAESI Act,2002 demanding the outststanding to be paid within 60 days & if it is not paid, the Bank issues Possession Notice u/s13(4) of the Act,

6) did you file file Application u/s17 of the Act finding fault with the said SARFAESI Proceeding and prayed for stay order?

7) After taking physical possession, the Bank can sell the property by keeping a reserved price below which the property can not be sold

8) approach bank with one time settlement offer to settle the outstanding dues

1. The query is not clear,

2. DRT Court does not give order for taking physical possession of a mortgaged property, symbolic possession of which has alrady been taken by the Bank,

3. In such cases, the DM or CJM passes order for taking over possession of the said mortgaged property by the Bank with police help if, and only if, the Bank files an application u/s14 of SARFAESI Act,2002 praying for such taking possession with police help,

4. If the Bank has taken physical possession of your property, you shall have to file an application u/s17 of the Act before te DRT within 4 days of such taking over physical possession of your property,

5. Engage a lawyer having expertise in the field of DRT matters.

1. How do you know that DRT has passed order allowing taking over physical possession of your mortgaged property?

2. Have you got a copy of the said Order Sheet?

3. Who has filed the case?

4. Does the case no. start with O.A. or S.A.?

5. S.A. case shall have to be filed by you and O.A. case will be filed by the Bank and in case of hearing of O.A. case, you are supposed to get summons to appear on the pre-fixed date.

1. You missed the trick it seems.

2. Please note that provisions of SARFAESI ACT are very strict and Bank can take (and they will take after notice period) possession of your property and thereafter they can sell it by public auction or by private arrangement. You have to act swiftly and see that amount due is paid fully. You should have replied to the notice through your lawyer, stating and showing the receipt of payment made by you against the loan amount and asking for giving you more time repay the remaining amount in EMIs suitable to both the bank as well as you.

3. Despite your reply, if the bank proceeded with according to their notice and took possession of the secured property then you can file an appeal before the Debt Recovery Tribunal of your area and then also if you are not satisfied with the DRT order then you can file appeal before the Appellate Tribunal.

4. The remedy now available to you is to file an Apeeal in the DRT and the actions taken by the bank declared invalid.