Defence To Suit For Redemption

This document is a format for written statement by defendant to the application of Right of Redemption filed by the plaintiff after the mortgaged property has been transferred to another person under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The defendant shall clearly mention that ‘defendant never took possession of the mortgaged property, or received the rents thereof’ or if the defendant admits possession/or a time only, he should state the time and deny possession beyond what he admits. Such declaration plays an important role to bring the Right of Redemption of the plaintiff under the restriction of the second schedule of Limitation Act, 1877. 

Section 60 and 91 of the Transfer of Property Act 1882 deals the redemption and who may redeem or institute a suit for redemption.

 

 

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