This site is under development, some of the functionalities may not work properly.
Anonymous
in Banking Law
Asked January 17, 2018

Notice by Bank to Non-performing asset

  • 2 Answers
  • 387 Views

one bank has given housing loan to one person, the loan become npa. bank fill recovery certificate against person. person also fill case against bank. the recovery certificate has been return to the bank by government saying party is not available. while same party appeared in court for hearing. my question is can bank serve notice to the party while the case is running at court.? what will be the option for bank for recovery from party

Answers 2

If the matter in the court then bank is no right to adopt any other action for this property.

Agree Comment 0 Agrees about 3 years ago

Yes,  Bank can served notice. attachment of the property of  borrower.

Agree Comment 0 Agrees about 3 years ago

Please Login or Register to Submit Answer

Directory ads
Need to talk to a lawyer?

Book a phone consultation with a top-rated lawyer on Lawfarm.