Debt Recovery Tribual Advocate, CHANDIGARH

Facing Bank Recovery Action? Secure Legal Assistance from a Debt Recovery Tribunal Advocate in Chandigarh

If you’re in need of legal representation before Debt Recovery Tribunal, Chandigarh for loan recovery proceedings under the SARFAESI Act, Advocate Vikram Singh & Associates is here to assist. As a full-service legal firm, we specialize in Debt Recovery Tribunal (DRT) cases, offering strategic and effective advocacy. Recognized as one of the most trusted law firms in Chandigarh, we bring extensive experience to protect the interests of borrowers facing financial distress.

The SARFAESI Act, passed by the Indian Parliament, grants banks the authority to recover overdue debts without resorting to conventional court proceedings. While this framework helps financial institutions expedite recovery, it often puts borrowers—especially those who default due to genuine financial, medical, or business hardships—at significant risk.

Power of DRT, Chandigarh

Under the SARFAESI Act, banks can issue possession notices without going to court. Borrowers can challenge these notices only before the Debt Recovery Tribunal (DRT) or by appealing to the Debt Recovery Appellate Tribunal (DRAT) in New Delhi. Civil courts cannot intervene, and even the Punjab and Haryana High Court in Chandigarh steps in only for serious constitutional or procedural issues.

Our legal team has defended many homeowners and business owners from unfair banking actions. As a reliable legal advocate in Chandigarh, Advocate Vikram Singh has handled several SARFAESI Act matters. He ensures borrowers are treated fairly and that banks follow the law. We aim to protect our clients’ properties and offer fast, effective legal help.

We are well-known for our DRT work. In addition, Advocate Vikram Singh & Associates offers skilled legal services in family law. If you need a divorce lawyer in Chandigarh, our team provides confidential and result-focused support in divorce, maintenance, custody, and related disputes.

Why Choose Advocate Vikram Singh & Associates?

Proven experience handling DRT & DRAT cases

Prompt response to SARFAESI Act notices

Transparent legal guidance with fair pricing

Strong track record of protecting residential & commercial properties

A dedicated legal team committed to client success

If you’ve received a bank notice or are in danger of losing your property due to SARFAESI proceedings, don’t wait—seek legal counsel immediately. Advocate Vikram Singh & Associates is here to provide clear, strategic, and effective support when you need it most. Get in touch with one of Chandigarh’s leading law firms today for guidance tailored to your situation.

 

SARFAESI Act, 2002 what DRT Advocate can help

The SARFAESI Act, 2002 was made by the Indian Parliament to help banks recover loans from borrowers quickly. Earlier, banks had to go to court to recover their money, which took a lot of time. But under this Act, banks can now take over the property given as security for the loan — like a house or factory — without going to court.

This has helped banks, but for many borrowers, especially those who are not willful defaulters, it has become a serious challenge.

At Advocate Vikram Singh & Associates, we often meet borrowers who lost their job, faced business losses, or had medical emergencies. They couldn’t repay the loan in time, and the bank started action under the SARFAESI Act. As top lawyers in Chandigarh for DRT cases, we help such people protect their property through proper legal channels.

Let’s understand the full process in simple words.

Step-by-Step Process Under SARFAESI Act

Account Becomes NPA

If a borrower misses 3 or more EMIs, the bank marks the loan as a Non-Performing Asset (NPA). Once this happens, the SARFAESI process starts. This is the first warning sign for the borrower.

First Notice from the Bank

After the account is declared NPA, the bank sends a notice asking the borrower to regularize the account. If the borrower does not respond or pay, the bank sends a Demand Notice under Section 13(2) of the Act.

In this notice, the bank demands full repayment within 60 days.

For example, in one case we handled, a small businessman received this notice after his shop had to shut down due to illness. He didn’t even know what to do with it.

Borrower’s Legal Representation

Before taking any property, the bank must wait for the borrower’s reply or legal representation. The borrower can write to the bank and explain the reason for non-payment. They can also ask for loan restructuring or a one-time settlement.

The bank must read and decide on this reply before going ahead.

Possession Notice – Section 13(4)

If the borrower doesn’t pay within 60 days, and the bank rejects the borrower’s explanation, the bank issues a Possession Notice under Section 13(4). This means the bank wants to take the property.

In another matter we helped with, the borrower tried to settle but the bank didn’t respond properly. We had to move the Debt Recovery Tribunal (DRT) quickly.

Borrower Can Approach DRT

Now the borrower has the right to file a case before the Debt Recovery Tribunal (DRT) under Section 17 of the same Act. The borrower can challenge the bank’s action and request the tribunal to stop possession.

This is a very important stage. Delay can lead to serious problems. DRT is the only forum where you can stop this action legally. Civil courts cannot help in SARFAESI matters.

Bank Requests Police Help

If the DRT does not stop the bank, or if the borrower doesn’t go to DRT in time, then the bank can ask the District Magistrate or Collector for police help to take possession of the property.

Auction of Property

After taking possession — or sometimes even before — the bank gives an Auction Notice. This notice will have:

The property details

Minimum price (reserve price)

Date and time of auction

The bank must publish this notice in two newspapers: one in English and the other in a local language.

📌 We’ve seen cases where a person’s home was about to be auctioned for a very low price. But we got a stay from DRT just in time.

Expert Law FIRM in DRT, Chandigarh

The SARFAESI Act helps banks, but it also has rules to protect honest borrowers. If you receive a bank notice, don’t panic — take legal advice early. Acting late can result in losing your home, shop, or land.

At Advocate Vikram Singh & Associates, we understand how to handle these cases with speed and care. If you’re looking for a lawyer near to me, or a trusted advocate in Chandigarh, we are here to help.

Whether it’s loan recovery, property attachment, or any DRT litigation, we stand by our clients every step of the way. We are among the most experienced law firms in Chandigarh for handling SARFAESI Act and DRT matters.

Effects of SARFAESI Act, 2002 and Borrower’s Remedy

The SARFAESI Act gives more power to banks. But it does not mean the borrower has no rights. Banks cannot sell the borrower’s property at any price they want. The borrower must stay alert and act quickly. If there is any dispute, the borrower can file a case before the Debt Recovery Tribunal (DRT).

For example, if the borrower and the bank are both based in Chandigarh, then the Debt Recovery Tribunal in Chandigarh has the power to cancel the possession notice or sale notice issued by the bank. The borrower can file this challenge under Section 17 of the SARFAESI Act.