Legal Question in Banking Law in India

Find out how it is overdue. Discuss and settle with BM.

Sir

First and foremost thing, did the bank issue you the notice before classifying your account as NPA. Before your account was classified as NPA, was there any deliberation or settlement talk.

Also, after issuance of 13(2) Notice by the bank, did you replied to Section 13(2) Notice. If yes, then whether the Bank has replied to your representation.

How much is the due, how many default you committed for repayment.

You mentioned that Bank has already taken symbolic possession u/s 13(4) and they will come to take actual physical possession. Now, has the bank filed Section 14 application with the DM for take over the possession of assets.

All these facts are required to know to advise you precise line of action. If there are fundamental errors committed by the Bank, then you can go ahead and file Writ Petition in High Court challenging the proceedings. Otherwise. you can file Section 17 Appeal before the DRT of your State.

Please contact me in person with full details to discuss the case further.

Vivek N Mapara

www.vnmlaws.com

[email protected]