Legal Question in Banking Law in India
Briefly describe your legal issues
1)can bank auction the property without taking physical possession of the same.
2)can bank auction the property with out issuing any notice of 13(4).the bank has just fixed a notice on the gate of the property without our knowledge.
3)can bank auction after a notice is served by borrower through an advocate stating that the first charge belongs to government of India. which is mentioned in the sanction letter.
4)can bank auction the property even if a writ is filed by the borrower in high court
Asked on 5/16/16, 11:23 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
17.05.2016
Dear Sir / Madam,
Yes, the Bank has the right to do all that is mentioned in Points above.
Regards,
Answered on 5/16/16, 7:20 pm
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