Legal Question in Banking Law in India
An educational trust in Tamilnadu wants to take a loan against mortgage of property owned by the trust.
Is it required to take permission from state government ?
Asked on 6/25/13, 4:15 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
25.06.2013
Dear Sir / Madam,
No permission from State Government is required prior to mortgage of the trust's property; the trustees permission is sufficient to mortgage the trust's property.
Regards,
Answered on 6/25/13, 4:29 am
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