Legal Question in Banking Law in India

SARFAESI ACT - Legal heir

Can action be initiated under SARFAESI Act against the legal heir upon death of the main borrower who had created the mortgage?


Asked on 5/28/09, 8:41 am

4 Answers from Attorneys
KAMAL GROVER

Re: SARFAESI ACT - Legal heir

Yes

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Answered on 5/28/09, 8:52 am
J. Radhakrishnan independent Practice

Re: SARFAESI ACT - Legal heir

The answer is yes. Notice should be given to the legal heir who has inherited the secured asset and proceddings continued.

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Answered on 5/28/09, 9:57 am
Pranav Desai PD Legal & Associates

Re: SARFAESI ACT - Legal heir

Only in respect of the properties mortgaged by the borrower.

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Answered on 6/01/09, 3:58 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: SARFAESI ACT - Legal heir

Recovery can be effected from the estate of the deceased.

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Answered on 5/28/09, 10:21 pm


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