Legal Question in Banking Law in India

Hello sir,

wish loan not comes under Surface Act 1.New house purchase 2.construction 3.mortgage loan plz answer to me am waiting for your quick reply or plz am mention my mail id you must reply to me this one is value question

Regards

saranvincent

[email protected]


Asked on 4/09/15, 11:41 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

10.04.2015

Dear Sir / Madam,

Any loan be it a personal loan or a housing loan or a business loan availed from a Bank comes under the purview of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. called the SARFAESI Act, 2002. If you have availed a loan from your friends or relatives, it does not come under the purview of this Act.

Regards,

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Answered on 4/09/15, 6:22 pm


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