Whether the enforcement agency (EA), if any, appointed for taking possession, maintenance and eventual sale can act himself or has to seek necessary instruction on each occasion ?
The Enforcement Agency has to act in accordance with the terms of his engagement, which must be clear as to the various duties to be performed by E.A. The borrower/guarantor is also to be informed about enlisting the services of particular E.A. 34. Whether borrower/guarantor could be evicted for delivering vacant possession of the immovable property sold to the buyer. The sale of possessed assets by Bank’s authorized officer is deemed to have been done on behalf of the owner. The terms of sale proclamation should be clear as to existing encumbrances.
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