Bombay High Court Allows Writ Petition Challenging SARFAESI Act Possession Notice — Bank Directed to Consider One-Time Settlement Offer. Failure to Consider OTS Proposal Before Taking Possession Violates Principles of Fairness and Natural Justice Under Section 13(2) of SARFAESI Act, 2002....
The petitioner, Surendra Nikose, had availed a housing loan from the State Bank of India (respondent). Due to financial difficulties, he defaulted on repayment. The bank issued a notice under Section ...




