Legal Question in Credit and Debt Law in India
Can a bank file a criminal complaint against the defaulter for the offence of criminal breach of trust by creating third party rights over the property in which the defaulter already sold the mortgaged property to a third party which was actually mortgaged to the bank as security for loan? If yes, is there any leading Indian Case-law to assist me?
Asked on 7/01/16, 1:21 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
01.07.2016
Dear Sir / Madam,
Since the property is mortgaged to the Bank, the buyer does not acquire a title to it if the seller is defaulted on repayment of the loan. Yes, the Bank has the right to file a criminal complaint against the defaulter.
Regards,
Answered on 7/01/16, 4:03 am
Related Questions & Answers
-
Hi this is I have cridit card problem what all do Asked 6/30/16, 12:09 am in India Credit, Debt and Collections Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
