Legal Question in Banking Law in India
In MPFAC Act 1974 whether charge created by bank on agri land is carry over for future loan if charge created for loan purpose was liquidated.
Asked on 4/07/14, 10:29 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
08.04.2014
Dear Sir / Madam,
Google "bings" on MPFAC Act, 1974. Please re-post query with the full form of the abbreviation MPFAC. If a charge has been liquidated, a fresh charge has to be created for a future loan.
Regards,
Answered on 4/08/14, 1:34 am
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