Legal Question in Banking Law in India
Dear Friends,
Being a Secured Creditor, we possessed a property in the year 2007. Till now there is no buyer to that property. We have also deployed a security personnel to the property. Can we utilise the property for storing our records in that property? Pls let me know the pros and cons of it.
Asked on 1/05/10, 10:16 pm
1 Answer from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
once the property has been attached by court orders, that cannot be used by the creditor for personal use and he is bound to dispose off the property through court and the proceeds are to be utilized for satisfying the debt.
Answered on 1/05/10, 11:07 pm
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