Legal Question in Banking Law in India
whether liabilities of a person can be recalled in parts or they should be recalled in one go and in case the liabilities are not recalled in one go, the lender will have recourse to recall other liabilities or he will have to forego his right of recall on pending liabilities.
Asked on 8/27/13, 5:34 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
27.08.2013
Dear Sir / Madam,
Recalling liabilities in part or in one go depends on the mutually agreed terms between the lender and the borrower. There is no prevalent rule for the lender foregoing his / her right to recall liabilities.
Regards,
Answered on 8/27/13, 5:50 am
Related Questions & Answers
-
One of my best friend has offered me 15crores as a gift! She will be depositing that... Asked 8/26/13, 12:50 pm in India Banking Law
-
My bank account was not credited with eight thousand rupees due to mischiefs by bank... Asked 8/26/13, 6:34 am in India Banking Law
-
Sir, Kindly tell me the defination of "unauthorised debit in loan/deposit... Asked 8/24/13, 9:48 pm in India Banking Law
-
I have a credit card debt of usd 4000 from a uae bank. I left uae in 2010 and came... Asked 8/22/13, 8:27 pm in India Banking Law
-
Hello Sir/ Madam, Good Morning. I had availed an Educational loan from... Asked 8/21/13, 9:03 pm in India Banking Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
