Bank taking possession of collateral security, when the court issued status quo on primary propert
The bank initiated proceedings under by invoking Sec29 of SFC act against primary security for recovery of loan dues. When the above said proceedings were not in confirmative with the rules, I filed WP before the Hon’ble high court. The Honble High court passed an interim order in the above said WP by directing the bank to maintain status Quo.
I also filed Another WP seeking the direction to de-freeze of the factory premises (Primary security). The hon’ble high court disposed of the said WP directing the bank to consider de-freeze the factory premises for valuable documents and other goods, take appropriate action in the matter and communicate the same to borrower.
Now when the said WP is pending for adjudication, the bank issued a notice under Sec 13(4) & Sec13(4a) of sarfaesi act seeking to take possession of my collateral properties.
Now, when the said WP is pending for adjudication, the bank now issued a present notice under Sec 13(4) & Sec13(4a) of sarfaesi act seeking to take possession of collateral property.
is this possible? Please advise.