SECURITY INTEREST (ENFORCEMENT) RULES, 2002

[SO 1020 (E), dt. 20.9.2002]

1.Short title and commencement

(1)These rules may be called the Security Interest (Enforcement) Rules, 2002.

(2)They shall come into force from the date of their publication in the Official Gazette.

2.Definitions

In these rules, unless the context otherwise requires,-

(a) "authorised officer" means an officer not less than a chief manager of a public sector bank

or equivalent, as specified by the Board of Directors or Board of Trustees of the secured creditor or any other person or authority exercising powers of superintendence, direction and control of the business or affairs of the secured creditor, as the case may be, to exercise the rights of a secured creditor under the 2[Act];

(b)demand notice means the notice in writing issued by a secured creditor or authorised of ficer, as the case may be, to any borrower pursuant to sub-section (2) of section 13 of the 2[Act]; 3[(c) "Act" means the Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act, 2002 (54 of 2002)];

4[(d) "approved valuer" means a person registered as a valuer under section 34-

AB of Wealth Tax Act, 1957 and approved by the Board of Directors or Board of Trustees of the secured creditor, as the case may be;]

(e)words and expressions used and not defined in these Rules but defined in the 2[Act] shall have the meanings respectively assigned to them in the 2[Act].

3.Demand notice

(1)The service of demand notice as referred to in sub-section (2) of section 13 of the 2[Act] shall be made by delivering or transmiting at the place where the borrower

or his agent, empowered to accept the notice or documents on behalf of the borrower, actually and voluntarily resides or carries on business or personally works for gain, by registered post with acknowledgement due, addressed to the borrower or his agent empowered

to accept the service or by Speed Post or by courier or by any other means of transmission of documents like fax message or electronic mail service:

Provided that where authorised officer has reason to believe that the borrower or his agent is avoiding the service of the notice or that for any other reason, the service cannot be made as aforesaid, the service shall be effected by affixing a copy of the demand notice on the outer door or some other conspicuous part of the house or building in which the borrower or his agent

ordinarily resides or carries on business or personally works for gain and also by publishing the contents of the demand notice in two leading newspapers, one in vernacular language, having sufficient circulation in that locality. In addition to the aforesaid the notice shall be also delivered by way of Whatsapp on the mobile number recorded by the bank for sending SMS and email if any registered for the purpose of online banking of the borrower.

(2)Where the borrower is a body corporate, the demand notice shall be served on the registered office or any of the branches of such body corporate as specified under sub-rule (1).

(3)Any other notice in writing to be served on the borrower or his agent by authorised officer, shall be served in the same manner as provided in this rule.

(4)Where there are more than one borrower, the demand notice shall be served on each borrower or any persons representing them.

1Substituted for "(Second) Ordinance, 2002 (Ord. of 2002) by SO 103(E), dt. 2.2.2007, w.e.f.

2.2.2007.

2Substituted for "Ordinance" vide SO 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

3Substituted by SO 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

4Substituted by SO 1837(E), dt. 26.10.2007, w.e.f. 26.10.2007.

1[3A.Reply to Representation of the borrower

(a)After issue of demand notice under sub-section (2) of section 13, if the borrower makes any representation or raises any objection to the notice, the Authorized Officer shall consider such representation or objection and examine whether the same is acceptable or tenable.

(b)If on examining the representation made or objection raised by the borrower, the secured creditor is satisfied that there is a need to make any changes or modifications in the d

all the Circulars of R.B.I. and internal guidelines of the Bank for the purpose of restructuring rehabilitation and rescheduling of the borrower(s) account if possible;

(d) If on examining the representation made or objection raised, the Authorized Officer comes to the conclusion that such representation or objection is not acceptable or tenable, he shall communicate within 15 days of receipt of such representation or objection, the reasons for non-acceptance of the representation or objection, to the borrower.]

(e)Non-consideration of the representation shall not be a ground for filing any proceedings whatsoever and the same shall only be an additional ground while challenging the measures in the Appeal if any filed by the borrower(s).

4.Procedure after issue of notice

If the amount mentioned in the demand notice is not paid within the time specified therein, the authorised officer shall proceed to realise the amount by adopting any one or more of t

hemeasuresspecifiedinsub- section (4) of section 13 of the 2[Act] for taking possession of movable property, namely:-

(1)Where the possession of the secured assets to be taken by the secured creditor are m ovable property in possession of the borrower, the authorised officer shall take possession of such movable property in the presence of two independent witnesses after a Panchnama drawn and signed by the witnesses as nearly as possible in Appendix I to these rules.

(2)After taking possession under sub-rule (1) above, the authorised officer shall make or

(1)either in his own custody or in the custody of any person authorised or appointed by him, who shall take as much care of the property in his custody as an owner of ordinary prudence would, under the similar circumstances, take of such property

Provided that if such property is subject to speedy or natural decay, or the expense of

keeping such property in custody is likely to exceed its value, the authorised officer may sell it at once and the same shall be communicated to the borrower(s).

(4)The authorised officer shall take steps for preservation and protection of secured assets and insure them, if necessary, till they are sold or otherwise disposed of.

(5)In case any secured asset is:-

(a)a debt not secured by negotiable instrument; or

(b)a share in a body corporate;

(c) other movable property not in the possession of the borrower except the property deposited in or in the custody of any court or any like authority, the authorised officer shall obtain possession or recover the debt by service of notice as under:-

(i) in the case of a debt, prohibiting the borrower from recovering the debt or any interest

not transferring such shares in favour of any person other than the secured creditor. A copy of the

(iii)in the case of other movable property (except as aforesaid), calling upon the borrowers and the person in possession to hand over the same to the authorised officer and the authorised officer shall take custody of such movable property in the same manner as provided in sub-rules

(1)to (3) above;

(iv)movable secured assets other than those covered in this rule shall be taken possession

(v)The Authorised Officer shall grant an opportunity to the Borrower(s) to remove their belongings and movables not hypothecated at the time of possession and in the event of failure to remove the same by the borrower(s) forthwith or within 15 days of the Authorised Officer taking possession, the same shall be deemed to be hypothecated/secured to the bank and shall form part and parcel of the secured assets retained by the bank as security.

1Inserted by SO 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

2Substituted for "Ordinance" vide SO 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

5.Valuation of movable secured assets

After taking possession under sub-rule (1) of rule 4 and in any case before sale, the authorised officer shall obtain the estimated value of the movable secured assets within 15 days of taking possession and thereafter, if considered necessary, fix in consultation with the secured creditor, the reserve price of the assets to be sold in realisation of the dues of the secured creditor. The

Authorised Officer shall also get the hypothecated stocks duly numbered and labelled as per the Valuation Report for proper identification. It shall be the duty of the Valuer to ensure to describe the working condition of the plant and machinery.

6.Sale of movable secured assets

(1)The authorised officer may sell the movable secured assets taken possession under sub-rule

(1) of rule 4 in one or more lots by adopting any of the following methods to secure maximum sale price for the assets, to be so sold-

(a)obtaining quotations from parties dealing in the secured assets or otherwise interested in buying such assets; or

(b)inviting tenders from the public ; or

(c)holding public auction; or

(d)by private treaty.

(2)The authorised officer shall serve to the borrower a notice of thirty days for sale of the movable secured assets, under sub-rule (1):

“Provided that if the sale of such secured assets is being effected by either inviting tenders from the public or by holding public auction, the secured creditor shall cause a public notice in the Form given in Appendix II-A to be published in two leading news papers, including one in vernacular language having wide circulation in the locality.” (3) Sale by any methods other than

public auction or public tender, shall be on such terms as may be settled between the parties in writing. The Authorised Officer shall communicate the terms settled between the parties in writing seven days prior to the borrower before acceptance of the same to enable the Borrower redeem the property and/or bring a better offer.

(4)The authorised officer shall upload the detailed terms and conditions of the sale of the movable secured assets on the web-site of the secured creditor, which shall include,

(a)details about the borrower and the secured creditor;

(b)complete description of movable secured assets to be sold with identification marks or numbers, if any, on them;

(c)reserve price of the movable secured assets , if any, and the time and manner of payment;

(d)time and place of public auction or the time after which sale by any other mode shall be completed;

(e)deposit of earnest money as may be stipulated by the secured creditor;

(f)any other terms or conditions which the authorsed officer considers it necessary for a purchaser to know the nature and value of movable secured assets.”

7.Issue of certificate of sale

(1)Where movable secured assets is sold, sale price of each lot shall be paid as per the terms of the public notice or on the terms as may be settled between the parties, as the case may

be and in the event of default of payment, the movable secured assets shall be liable to be ordered for sale again.

(2)On payment of sale price, the authorised officer shall issue a certificate of sale in the prescribed form as given in Appendix III to these rules specifying the movable secured assets sold, price paid

and the name of the purchaser and thereafter the sale shall become absolute. The certificate of sale so issued shall be prima facie evidence of title of the purchaser.

(3) Where the movable secured assets are those referred in sub-clauses (iii) to (v) of clause (1) of sub-section (1) of section 2 of the Act, the provisions contained in these rules and rule 7 dealing with the sale of movable secured assets shall, mutatis mutandis, apply to such assets.

8.Sale of immovable secured assets

(1)Where the secured asset is an immovable property, the authorised officer shall take or cause to be taken possession, by delivering a possession notice prepared as nearly as possible in

(2)1[The possession notice as referred to in sub-rule (1) shall also be published, as soon as possible but in any case later than seven days from the date of taking possession,

in two leading newspapers], one in vernacular language having sufficient circulation in that locality, by the authorised officer.

(3)In the event of possession of immovable property is actually taken by the authorised officer, such property shall be kept in his own custody or in the custody of any person authorised or appointed by him, who shall take as much care of the property in his custody as an owner of ordinary prudence would, under the similar circum- stances, take of such property.

(4)The authorised officer shall take steps for preservation and protection of secured assets and insure them, if necessary, till they are sold or otherwise disposed of.

(5)Before effecting sale of the immovable property referred to in sub-rule (1) of rule 9, the authorised officer shall obtain valuation of the property from an approved valuer and in consultation with the secured creditor, fix the reserve price of the property, which shall not be less than 40% of the true market value or the value prescribed as per the Ready Reckoner

(a)by obtaining quotations from the persons dealing with similar secured assets or otherwise interested in buying the such assets; or

(b)by inviting tenders from the public;

(c)by holding public auction; or

(d)by private treaty.

(6)The authorised officer shall serve to the borrower a notice of thirty days for sale of the immovable secured assets, under sub-rule (5):

“Provided that if the sale of such secured asset is being effected by either inviting tenders from the public or by holding public auction, the secured creditor shall cause a public notice in the Form given in Appendix IV-A to be published in two leading newspapers including one in vernacular language having wide circulation in the locality.”;“(7) every notice of sale shall be affixed on the conspicuous part of the immovable property and the authorisedofficer shall upload the detailed terms and conditions of the sale, on the web- site of the secured creditor, which shall include;

(a)the description of the immovable property to be sold, including the details of the encumbrances known to the secured creditor;

(b)the secured debt for recovery of which the property is to be sold;

(c)reserve price of the immovable secured assets below which the property may not be sold;

(d)time and place of public auction or the time after which sale by any other mode shall be completed;

(e)deposit of earnest money as may be stipulated by the secured creditor;

(f)any other terms and conditions, which the authorized officer considers it necessary for a purchaser to know the nature and value of the property.”

(g)The Authorised officer shall seek information about the Statutory dues from the Corporation/G.P./Council Taxes, Electricity Dues and other dues and disclose the same as encumbrances and shall upload the title deeds with TVSR obtained by the Bank on the website.

(8)Sale by any method other than public auction or public tender, shall be on such terms as may be settled between the parties in writing and the terms thereof shall be communicated to the borrower 7 days in advance, so as to enable him redeem the property and/or enable him bring a better offer.

1Substituted for "The possession notice as referred to in sub-

9.Time of sale, issue of sale certificate and delivery of possession, etc.

(1)No sale of immovable property under these rules shall take place before the expiry of thirty days from the date on which the public notice of sale is published in newspapers as referred to in the proviso to sub-rule (6) or notice of sale has been served to the borrower.

(2)The sale shall be confirmed in favour of the purchaser who has offered the highest sale price in his bid or tender or quotation or offer to the authorised officer and shall be subject to confirmation by the secured creditor:

Provided that no sale under this rule shall be confirmed, if the amount offered by sale price is less than the reserve price, specified under sub-rule (5) of rule 9:

Provided further that if the authorised officer fails to obtain a price higher than the reserve price, he may, with the consent of the borrower and the secured creditor effect the sale at such price.

(3)On every sale of immovable property, the purchaser shall immediately pay a deposit of twenty-five per cent of the amount of the sale price, to the authorised officer conducting the sale and in default of such deposit, the property shall forthwith be sold again.

(4)The balance amount of purchase price payable shall be paid by the purchaser to the authorised officer on or before the fifteenth day of confirmation of sale of the immovable property or such extended period as may be agreed upon in writing between the parties and not later than 90 days, failing which the sale shall stand cancelled..

(5)In default of payment within the period mentioned in sub-rule (4), the deposit (earnest money) shall be forfeited and the property shall be resold and the defaulting purchaser shall forfeit all claims to the property or to any part of the sum for which it may be subsequently sold.

(6)On confirmation of sale by the secured creditor and if the terms of payment have been complied with, the authorised officer exercising the power of sale shall issue a certificate of sale of the immovable property in favour of the purchaser in the form given in Appendix- V to these rules.

(7)Where the immovable property sold is subject to any encumbrances, the authorised officer

with such additional amount that may be sufficient to meet the contingencies or further cost, expenses and interest as may be determined by him:

[Provided that if after meeting the cost of removing encumbrances and contingencies there is a ny surplus available out of the money deposited by the purchaser such surplus shall be paid to the purchaser within fifteen days from the date of finalisation of the sale.]

(8) On such deposit of money for discharge of the encumbrances, the authorised officer 2[shall] issue or cause the purchaser to issue notices to the persons interested in or entitled to the money deposited with him and take steps to make the payment accordingly.

(9)The authorised officer shall deliver the property to the purchaser free from encumbrances known to the secured creditor on deposit of money as specified in sub- rule (7) above.

(10)The certificate of sale issued under sub-rule (6) shall specifically mention that whether the purchaser has purchased the immovable secured asset free from any encumbrances known to the secured creditor or not.

(11_ The Authorised Officer shall be legally entitled to record the lien of any other dues on the property or that of the borrower to be realised by any other Bank/Financial Institutions and in the event of surplus shall pay the same after intimating the same to the borrower(s)

1Inserted by SO 1837(E), dt. 26.10.2007, w.e.f. 26.10.2007.

2Substituted for "may" by SO 1837(E), dt. 26.10.2007, w.e.f. 26.10.2007.

10.Appointment of Manager

(1)The Board of Directors or Board of Trustees, as the case may be, may appoint in consultation with the borrower any person (hereinafter referred to as the Manager) to manage the secured assets the possession of which has been taken over by the secured creditor:

1[Provided that the Manager so appointed shall not be a person who is, or has been, adjudicated insolvent, or has suspended payment or has compounded with his creditors, or who is, or has been convicted by a criminal court of an offence involving moral turpitude.]

(2)The Manager appointed by the Board of Directors or Board of Trustees, as the case may be,

shall be deemed to be an agent of the borrower and the borrower shall be solely responsible for the commission or omission of acts of the Manager unless such commission or omission are due to improper intervention of the secured creditor or the authorised officer.

(3) The Manager shall have power by notice in writing to recover any money from any person who has acquired any of the secured assets from the borrower, which is due or may become due to the borrower.

(4)The Manager shall give such person who has made payment under sub-rule

(3)a valid discharge as if he has made payments to the borrower.

(5)The manager shall apply all the monies received by him in accordance with the provisions contained in sub-section (7) of section 13 of the Act.

11. Procedure for Recovery of shortfall of secured debt.

(1) An application for recovery of balance amount by any secured creditor pursuant to sub- section (10) of section 13 of the Act shall be presented to the Debts Recovery Tribunal in the form annexed as Appendix-VI to these rules by the authorised officer or his agent or by a duly authorised legal practitioner, to the Registrar of the Bench within whose

(2)The provisions of the Debts Recovery Tribunal (Procedure) Rules, 1993 made under Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993), shall mutatis mutandis apply to any application filed by under sub-rule (1).

(3) An application under sub-rule (1) shall be accompanied with fee as provided in rule 7 of the Debts Recovery Tribunal (Procedure) Rules, 1993.

2[12. Application to the Tribunal/Appellate Tribunal

(1)Any application to the Debt Recovery Tribunal under sub-section (1) of section 17 shall be, as nearly as possible, in the form given in Appendix VII to the rules.

(2) Any application to the Appellate Tribunal under sub-section (6) of section 17 of the Act shall be, as nearly as possible, in the form given in Appendix VIII to the said rules. Any appeal to the Appellate Tribunal under section 18 of the Act shall be, as nearly as possible, in the form given in Appendix IX to the said rules.

1Inserted by SO 1837(E), dt. 26.10.2007, w.e.f. 26.10.2007.

2Inserted by SO 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

13.Fees for applications and appeals under sections 17 and 18 of the Act

rule (2) and such fee may be remitted through a crossed demand draft drawn on a bank or Indian P ostal Order in favour of the Registrar of the Tribunal or the Court, as the case may be, payable at the p lace where the Tribunal or the Court is situated.

(2) The amount of fee payable shall be as follows:

Financial Assets and Enforcement of Security Interest 1[Act, 2002 (54 of 2002)] and in exercise of the powers under section 13(4) of the said Act today entered the premises

the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest 1[Act, 2002 (54 of 2002)] and the Security Interest (Enforcement) Rules, 2002

Sr.No. Description of article Estimated value Place where kept for safe custody

(Name of the person if necessary)

Panchas:

Signature of Borrower/Representative

Signature of Authorised Officer

1Substituted for "(Second) Ordinance, 2002 (Ord. of 2002)" by SO 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

APPENDIX III

[See rule 7(2)]

CERTIFICATE OF SALE

(FOR MOVABLE PROPERTY)

Whereas The undersigned being the authorised officer of the .................. (name of the institution)

under the 1[Securitisation and Reconstruction of Financial Assets and Enforcement of Security Int

Description of the movable property.

Sd/- Authorised Officer

Date:

Place:

APPENDIX IV

[See rule 8(1)]

POSSESSION NOTICE

(FOR IMMOVABLE PROPERTY)

Sd/- Authorised Officer

Security Interest 3[Act, 2002 (54 of 2002)] and in exercise of powers conferred under section 13(1 2) read with rule 9 of the Security Interest (Enforcement) Rules, 2002 issued a demand notice dated

1Substituted vide SO 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

3Substituted for "(Second) Ordinance, 2002 (Ord. of 2002)" by SO 103(E), dt. 2.2.2007, w.e.f

. 2.2.2007.

The borrower having failed to repay the amount, notice is hereby given to the borrower and the public in general that the undersigned has taken possession of the property

tution) under the 1[Securitisation and Reconstruction of Financial Assets and Enforcement of

property. The sale of the scheduled property was made free from all encumbrances known to the secured creditor listed below on deposit of the money demanded by the undersigned.

1Substituted vide SO 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

2Inserted vide SO 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

Description of the Movable Property All that part and parcel of the property consisting of Flat

On the North by

On the South by On the East by On the West by

List of encumbrances

1.

2.

For use in Office. Date of filing .........

Date of receipt by post ........

Registration No. .........

Signature

Registrar

IN THE DEBTS RECOVERY TRIBUNAL [Name of the place] BETWEEN

A.B. .................................. APPLICANT

1Substituted for "(Second) Ordinance, 2002 (Ord. of 2002)" by SO 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

C.D. .................................. DEFENDANT Delete whichever is not applicable.

Details of Application:

1.Particulars of the applicant:

(i)Name of the applicant:

AND

(ii) Address of Registered Office:

Signature of the applicant

Place:

Date:

To

The Registrar

.....................

.....................

1[APPENDIX VII

[See rule 12(1)]

APPLICATION UNDER SECTION 17(1) OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002

Signature

Registrar

In the Debts Recovery Tribunal (Name of the place) Between

'Delete whichever is not applicable. Details of application:

1.Particulars of the applicant:-

(i)Name of the applicant:

(ii)Address of Registered Office:

(iii)Address for service of all notices:

2.Particulars of the defendant:-

(i)Name of the defendant:

(ii)Office address of the defendant:

(iii)Address for service of all notices:

3.Jurisdiction of the Tribunal:-

The applicant declares that the subject matter of this application falls within the jurisdiction of the Tribunal.

4. Limitations:-

The applicant further declares that this application is filed within the limitation prescribed in sub-section (1) of Section 17 of the Securitisation and Reconstruction of the Financial Assets and enforcement of Security Interest Act, 2002.

5. Facts of the case:-

The facts of the case are given below:-

1Inserted by S.O. 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

9.Particulars of Bank/Draft/Postal Order in respect of the application fee in terms of 1[rule 13] of these rules:-

(1) Name of the Bank on which drawn: (2) Demand Draft No.: OR

(1)Number of Indian Postal Order(s):

(2)Name of the issuing Post Office:

(3)Date of Issue of Postal Order (s):

(4)Post Office at which payable:

10.Details of Index:-

An index in duplicate containing the details of the documents to be relied upon is enclosed. 11. List of enclosures:-

......................

......................]

1Substituted for "Rules 13" by S.O. 1444(E), dt. 21.8.2007, w.e.f. 21.8.2007.

1[APPENDIX VIII

[See rule 12(2)]

APPLICATION UNDER SUB-SECTION (6) OF SECTION 17 OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002

'Delete whichever is not applicable. Details of application:

1.Particulars of the applicant:-

(i)Name of the applicant:

(ii)Address of Registered Office:

(iii)Address for service of all notices: 1[2. Particulars of the defendant:-

(i)Name of the defendant:

(ii)Office address of the defendant:

(iii)Address for service of all notices:

3.Jurisdiction of the Appellate Tribunal:-

The applicant declares that the subject matter of this application falls within the

jurisdiction of the Appellate Tribunal.

4.Facts of the case:-

The facts of the case are given below:-

The applicant submits that the applicant/defendant had filed an application under sub-

section (1) of Section 17 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, before the Hon'ble Debt Recovery Tribunal (Place) on (date),

which was registered as ..........................................., and is still pending. The aforesaid application

ought to have been disposed off on or before .....................

5.Relief(s) sought:-

In view of the facts mentioned in 1[para 4] above, the applicant prays for the following

relief(s):-

Between

.........................Appellant(s)/Judgment-Creditor(s)

and

.........................Respondent(s)/Creditor(s)

I. Particulars of the Appellant(s)

(i)Name of the Appellant(s)

(ii)Address of the Registered office of the appellant:

(iii)Address for service of all notices:

II. Particulars of the respondent(s)

(i)Name(s) of respondent:

(ii)Office address of the respondent:

(iii)Address for service of all notices:

III. Jurisdiction of the appellate Tribunal:

The appellant declares that the subject matter of the appeal falls within the jurisdiction of the Appellate Tribunal.

IV. Limitation:

The appellant declares that the appeal is within the limitation prescribed in sub- section (1) of Section 18 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

V. Facts of the case:

(give here a concise statement of facts and grounds of appeal against the specific

In view of the facts mentioned in paragraph V above, the appellant prays for the following relief(s):

(Specify below the relief(s) sought explaining the grounds of relief(s) and the legal provisions (if any) relied upon).

VII. Interim order, if prayed for-

Pending final decision on the appeal the appellant seeks issue of the following interim order: (Give here the nature of the interim order prayed for with reasons)

VIII. Matter not pending with any other court, etc.:

The Appellant further declares that the matter regarding which this appeal has been made is not pendingbefore anycourt of law or any otherauthority or any otherTribunal(s).

IX. Particulars of Bank Draft/Postal Order in respect of the deposit of debts due in terms of sub- section (1) of Section 18 of the Act:

(1)Name of the bank on which drawn

(2)Demand Draft number Or

1Inserted by S.O. 103(E), dt. 2.2.2007, w.e.f. 2.2.2007.

2Substituted for "Section 18" by S.O. 1444(E), dt. 21.8.2007, w.e.f. 21.8.2007.

(1)Number of Postal Order(s)

(2)Name of Issuing Post Office

(3)Date of Issue of Postal Order(s)

(4)Post Office at which payable

X. Particulars of 1[Bank Draft/Postal Order] in respect of the fee paid in terms of rule 13 of thes e rules:

(1)Name of the bank on which drawn

(2)Demand Draft number Or

(1)Number of Postal Order(s)

(2)Name of Issuing Post Office

appellant do hereby verify that the contents of paragraphs 3[I to XII] are true to my personal knowledge and belief and that I have not suppressed any material fact(s).

Place:

Signature of the Appellant

Date: To

Registrar

4[Debts Recovery Appellate Tribunal] * Delete whichever is not applicable]

“APPENDIX- II-A

[See proviso to rule 6 (2)]

Sale notice for sale of movable properties

E-Auction Sale Notice for Sale of Movable Assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002read with proviso to Rule 6(2) of the Security Interest (Enforcement) Rules, 2002

Notice is hereby given to the public in general and in particular to the Borrower (s) and Guarantor (s) that the below described movable property hypothecated/pledged/charged to the Secured Creditor, the

constructive/physical————— (whichever is applicable) possession of which has been taken by the Authorised Officer of ———-Secured Officer, will be sold on “As is where is”, “As is what is”, and “ Whatever there is” on—————(mention date of the sale), for recovery of Rs.————– due to the ———–Secured Creditor from————

—————————-(mention name of the Borrower (s)) and————— (mention name of the Guarantor (s)). The reserve price will be Rs.——————- and the earnest money deposit will be Rs.—————

(Give short description of the movable property with known encumbrances, if any)

For detailed terms and conditions of the sale, please refer to the link provided in——

———- Secured Creditor’s website i.e. www. (give details of website) .

Date:

Authorised Officer

Place:

5.In the principal rules, after Appendix IV, the following Appendix shall be inserted, namely:–

“APPENDIX- IV-A

[See proviso to rule 8 (6)]

Sale notice for sale of immovable properties

E-Auction Sale Notice for Sale of Immovable Assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with proviso to Rule 8 (6) of the Security Interest (Enforcement) Rules, 2002

Notice is hereby given to the public in general and in particular to the Borrower (s) and Guarantor (s) that the below described immovable property mortgaged/charged to the Secured Creditor, the constructive/physical ————————— (whichever is applicable) possession of which has been taken by the Authorised Officer of————

——————- Secured Creditor, will be sold on “As is where is”, “As is what is”, and “Whatever there is” on ——————– (mention date of the sale), for recovery of Rs. due to the ————Secured Creditor from (mention name of the Borrower (s)) and —

————————————————-(mention name of the Guarantor (s)). The reserve price will be Rs.——————————- and the earnest money deposit will be Rs .——————————————

(Give short description of the immovable property with known encumbrances, if any)

For detailed terms and conditions of the sale, please refer to the link provided in——

—————————–Secured Creditor’s website i.e. www. (give details of website)

Date:

Authorised Officer

Place:

[F. No. 31/20/2018-DRT]

VANDITA KAUL, Jt. Secy

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