Legal Question in Banking Law in India
if bank wrongly declares accounts of any of its account holder as fraud and party challenges that presented list of fraud in civil court and matter is pending then bank can take action of SARFAESAI on that account holder or not?
Asked on 4/20/14, 7:03 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
21.04.2014
Dear Sir / Madam,
The matter being subjudice, the Bank cannot initiate SARFAESI proceedings till the case is decided by the Court and the Court verdict is announced.
Regards,
Answered on 4/20/14, 6:58 pm
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