Property Attachment - For Loar Recover

Asked in Recovery

  • Naga Siva Sankar Kolla

    Chennai

Expert's Answers(4)

  • Nagabhushan swamy, Advocate and Retired Banker

    Bengaluru, Karnataka
      1 Client Ratings

    I hav addressed this issue, U hav not consulted for further course....

    July 27, 2024
  • Advocate Anik

    Bengaluru, Karnataka
      66 Client Ratings

    Dear Client The plaintiff (creditor) can object to the substitution of the property if they believe the proposed property is insufficient to cover the debt or is not easily marketable. The plaintiff may request the attachment of property in a prime location, especially if it is more marketable and has a higher value. The defendant can also offer another property that meets the value of the debt amount. After that, The plaintiff can object to the substitution if they believe the offered property does not adequately cover the debt or is difficult to sell. However, the final decision to accept or reject the substitute property lies with the court. The court will consider whether the substitute property adequately secures the debt. Should you require any further clarification, please do not hesitate to contact us.

    July 25, 2024
  • Nagabhushan swamy, Advocate and Retired Banker

    Bengaluru, Karnataka
      1 Client Ratings

    Yes, court can accept defendant's requisition in the interest of equity if it is not cumbersome for immediate auction on court order.

    July 25, 2024
  • Advocate Yogesh Navmahalkar

    Jalna, Maharashtra
      19 Client Ratings

    You are absolutely right, You can attach that property recover your loan amount by auction some part of that property.

    July 25, 2024