Legal Question in Banking Law in India
I had availed education loan for my son's study abroad against equitable mortgage of vacant land for the security of the loan, now anti social eliment forcibly occupying the land.Can I buld flat in the land with the help of promoter?
Asked on 2/22/11, 2:45 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
yes, you can build a flat on the mortgaged land with the help of a promoter. The mortgage in favour of the Bank will also extend to the building.
Answered on 2/22/11, 1:29 pm
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