Legal Question in Banking Law in India
Limitation of time for which any property/ies Under SARFAESI Act 2002 may be retained under possession of creditor i.e. bank etc. thereafter fresh proceedings are to be initiated Under SARFAESI Act 2002
Asked on 7/01/16, 7:38 am
2 Answers from Attorneys
The bank can proceed against the borrower under Civil Law subject to the provisions of Limitation Act as well.
Answered on 7/02/16, 3:26 am
Fca Prashant Chavan
Expert Edge LLP
02.07.2016
Dear Sir / Madam,
There is no time limitation for recovery proceedings under the SARFAESI Act.
Regards,
Answered on 7/02/16, 8:32 am
Related Questions & Answers
-
Sir, I have taken 50000 from one person say x and given him 10 chq and told to... Asked 6/30/16, 9:59 pm in India Banking Law
-
Sir i deposited cheque in my account.but my account was not credited...but payees... Asked 6/30/16, 8:33 am in India Banking Law
-
I am guarantor for a bank loan to mortgage my entire property. Loone have ability to... Asked 6/30/16, 5:34 am in India Banking Law
-
Plz tell if a person can lodge case of check bounce if Check is from himachal... Asked 6/30/16, 1:46 am in India Banking Law
-
I am defaulter of Citi bank credit card. I am not in possession to pay back the... Asked 6/29/16, 7:22 am 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.
