Legal Question in Banking Law in India
Sir, bank has pasted symbolic possesion on equipments after declaring my accounts npa of my equipment loan. I came across that movable assets cannot be pasted as by symbolic possession notice?
Can I seek stay from drt on plea that I want restructuring of loan?
In my above case till date the bank has pasted notices on someone elses machines and premises despite my pleas thst its not the right place or machines, pl suggest
Asked on 8/29/15, 1:45 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
29.08.2015
Dear Sir / Madam,
Yes, you may seek a stay on the symbolic possession notice by the Bank.
Regards,
Answered on 8/29/15, 4:00 am
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