About Bank Loan Cases & Legal Solution .Com in Hastinapur,Ganeshguri,Bye Lane No1,Behind PNB-Zoo Road Branch, Gauhati

Bank Loan Cases involving Rs. Ten Lakhs or more are required to be filed by the Banks/Financial Institutions before the Debts Recovery Tribunal constituted under the Recovery of Debts due to Banks and Financial Institution Act,1993 (RDDBFI). Cases involving less than Ten Lakhs are filed before the ordinary civil court.
On the other hand, any person including a borrower/guarantor, if, aggrieved by any measure/action taken (Notice for possession or auction sale of mortgaged property under section 13(4) of the Act) by any Bank or Financial Institution Under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002 (SARFAESI), may file cases/Application before the Debts Recovery Tribunal against the Banks/Financial Institutions. The amount involves in these cases may be as low as Rs. One Lakh under this Act.
The general perception of the borrowers about the Debts Recovery Tribunals is that the Debts Recovery Tribunals are Government’s agencies which were established to help the Banks to recover debts from the defaulter borrowers. Borrowers belief that DRTs always favour the Banks and Financial Institutions and they donot get justice from the DRTs once case is filed before it by the Bank(s).But it is not true. Debts Recovery Tribunals are Special Tribunals established under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The purpose of the Tribunals is speedy disposal of cases on merits without any favour or bias to any party before it. The fact is that a loan is sanctioned by the Bank after taking hundred signatures on loan documents from the borrower/guarantors(s)and hence in 99.99% cases the liability of the borrowers are proved before the DRTs. It gives the impression that DRTs favour the Banks and Financial Institutions.
Due to this perception, the borrowers hesitate to approach the DRTs even against illegal action of the Banks and Financial Institutions under SARFAESI ACT, 2002 and Rules made thereunder. The SARFAESI ACT, 2002 is a different one which empowers the Authorised Officer of the Banks/Financial Institutions to take possession and sale the mortgaged property in public auction of the secured assets/mortgaged property of the defaulter borrowers after the Loan Account becomes NPA. Under section 17(1) of this Act, the defaulter borrower/guarantor (or any person aggrieved) has right to file case/application within 45 days from the date of publication of possession/sale notice before the DRT against the action of the Banks/ Financial Institutions. The DRTs have discretionary power to grant INTERIM STAY of such action (possession/sale of mortgaged property) and upon hearing if the action of the Bank is found illegal, DRT can even direct the Banks to restore the possession of the mortgaged property to the borrower. Therefore, borrowers should not be panic when a possession notice or sale notice is published in the NEWSPAPER and can approach the DRT within 45 days for any grievance against any ILLEGAL action of the Banks/Financial Institutions under SARFAESI ACT, 2002.


The very purpose of bankloancases.com is to provide:
1. LEGAL SERVICES for taking up cases arising out of Bank Loan Matters before the Debts Recovery
Tribunals, Debts Recovery Appellate Tribunals, High Courts and other Courts/Tribunals.

2. Settlement/Reconciliation of bank loan cases with the appropriate authorities.