In Debt Recovery Tribunal (DRT) proceedings, a praecipe serves as a vital administrative tool, especially when a borrower seeks a stay on the possession or auction of their residential property under the SARFAESI Act, 2002. When a bank issues a possession notice or schedules an auction, time becomes critical for the borrower. In such situations, an advocate can file a praecipe along with the main application under Section 17 of the Act to request urgent listing of the matter before the Presiding
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In Debt Recovery Tribunal (DRT) proceedings, a praecipe serves as a vital administrative tool, especially when a borrower seeks a stay on the possession or auction of their
Lawsaysthat . Lawsaysthat · Original audio. In Debt Recovery Tribunal (DRT) proceedings, a praecipe serves as a vital administrative tool, especially when a borrower seeks a stay on the possession or auction of their residential property under the SARFAESI Act, 2002. When a bank issues a possession notice or schedules an auction, time becomes ...
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