Legal Question in Banking Law in India
When bank can issue a notice under section 13(2) SARFAESI Act to a bank's own award staff for car loan?
Asked on 2/03/16, 4:48 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
03.02.2016
Dear Sir / Madam,
The Bank can issue a Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 Notice to the Bank's own staff, when the concerned bank staff defaults to repay the car loan availed of by him / her to the Bank.
Regards,
Answered on 2/03/16, 7:36 am
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