Legal Question in Banking Law in India
Whether Bank can issue another Notice under Section 13(2) of Securitisation Act, 2002 after taking symbolic possession of property under Section 13(4) of the same Act i.e Securitisation Act
Asked on 10/17/10, 7:26 am
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
If the Bank does the earlier possession notice goes out. It is to the advantage of the borrower and the Bank is only facilitating one more opportunity for the borrower to respond.
Answered on 10/17/10, 8:21 pm
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