Legal Question in Banking Law in India

17.01.2014

Dear Sir / Madam,

If you have defaulted in repayment of the loan EMI's for a continuous period of eight months at a stretch, the bank is entitled to auction the property without recourse to you.

Please elaborate what is the private treaty you are referring to, what are the agreed terms & conditions therein, and who are the parties to the private treaty at [email protected] to guide you further in the matter.

Regards,

FCA Prashant Chavan

Mumbai

i agree with Mr Chavan

Your question is not giving full details. You need to elaborate, as to the amount outstanding; whether by your method or offer the liability of the Bank will be paid or not, and you are fetching the price at higher or lower then the valuation obtained by the Bank or not; etc. needs to be mentioned. As the question is not disclosing full facts; proper answer is not possible.

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