Legal Question in Banking Law in India
Hi I would like to know that can bank file case under section 406,420 both in personal loan default.
Asked on 2/06/16, 10:42 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
07.02.2016
Dear Sir / Madam,
Yes. The Bank can take recourse to various Sections of the Indian Penal Code (IPC) whilst filing a recovery suit for personal loan depending upon the nature of default(s) by the borrower.
Regards,
Answered on 2/06/16, 10:50 am
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