Legal Question in Banking Law in India
Sir,
Please clarify whether an Educational trust 's Property in Tamilnadu can be mortgaged in a Bank for securing a loan
Asked on 6/15/16, 3:03 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
15.06.2016
Dear Sir / Madam,
Yes, the educational trust's property can be mortgaged with the Bank with the approval of the majority of the trustees.
Regards,
Answered on 6/15/16, 3:44 am
1) As per trust bye laws and resolution to borrow with specific amount and named
lending bank.
Answered on 6/15/16, 4:44 am
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