Legal Question in Banking Law in India

Dear sir

Recently we switch over from Axis Bank to other bank for that they have charged 2% prepayment penalty for working capital limit we enjoyed with them. The take over is taken place only after expiry of the limit. We didn't give letter for renewal/extending of the limit so they charge additional percentage for the liability portion which we enjoyed. Whether prepayment penalty charges is applicable after expiry of the limit?


Asked on 7/20/16, 8:08 pm

1 Answer from Attorneys

repeated query replied.

U continued to enjoy the limits. Bank is right.

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Answered on 7/20/16, 8:17 pm


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