Legal Question in Banking Law in India

Sir

My father is 67 and my mother is 56 years old.I am 26 years old working for one of the State Bank Associate Banks.My father has 7 lakh rupees debts.My father has a land of 1.7 acres of land in my village near township which has quite high value to sell.But Its agri land.My family members are not interested to sell even a cent also. I earn 30000rupees per month.I have a capacity repay 12000-14000/- rupees per month.Wheather Am I eligible to take loan from my bank keeping the agri land as a security under any provision.Because everybody says about SARFAESI ACT,2002.But is there any chance to save my father from debt trap.I tried for reverse mortgage loan also.please help me.


Asked on 2/20/16, 6:56 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

20.02.2016

Repeat query. Already answered.

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Answered on 2/20/16, 7:28 am


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