Legal Question in Credit and Debt Law in India

Indian bank soft professional loan non repayment by guarantor after paying first instalment since 1990. property share certificate held in bank without consent from the owner as mortgage . the bank refuses to return the share certificates to rightful owner inspite of many representation. what can b done?


Asked on 3/18/16, 6:02 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

19.03.2016

Dear Sir / Madam,

The Bank is legally entitled to retain the property Share Certificate till the entire loan is repaid and settled by the borrower(s). If the Bank refuses to return the property Share Certificate despite repayment and settlement of the loan, you may write to the Banking Ombudsman for intervention and immediate redressal of the matter.

Regards,

Read more
Answered on 3/18/16, 6:56 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in India