Advocate cannot issue notice to seize assets’

anuary 10, 2013:  

Under the Securitisation Act, it is the Chief Manager of a public sector bank and his counterparts in private sector banks who are authorised to take a decision on the need for seizing the mortgage asset and issue notice accordingly.

The Andhra Pradesh High Court, in Sampoorna Battu v. ICICI Bank, found that the advocate of the respondent bank had issued the impugned notice to the petitioner on her default in servicing a home-loan she had taken from the bank.

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