Legal Question in Banking Law in India
Dear sir
Recently we switch over from Axis Bank to other bank for that they have charged 2% prepayment penalty for working capital limit we enjoyed with them. The take over is taken place only after expiry of the limit. We didn't give letter for renewal/extending of the limit so they charge additional percentage for the liability portion which we enjoyed. Whether prepayment penalty charges is applicable after expiry of the limit?
Asked on 7/20/16, 8:08 pm
1 Answer from Attorneys
repeated query replied.
U continued to enjoy the limits. Bank is right.
Answered on 7/20/16, 8:17 pm
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