Legal Question in Banking Law in India

dear sir, i riceved od limit of 10 lacs from nationalised bank,they give me the notice of property attchment,i go to the bank for settelment for very handsome amount of rs 11 lacs againest my total advances of rs 13 lacs in all accounts.the property value is less then 50% of settelment amount they are not agree to settel the all account.the property is my shop i can give the property to the bank to sell the can not received 50% amount from the my total out standing.can i go to drt to file mercypiteation againest bank to avail stay for they cannot seel my property.i can ready to pay 11 lacs in 90 daya settelment peariod.pls give ans very urgent the date of notice is 31/08/2010 fro seel the property.

Asked on 8/25/10, 10:58 pm

RAJIV GUPTA (Cell: +91 9811284735) [email protected]

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you may approach the court and offer your way of settlement to the judge.

Answered on 8/26/10, 12:34 am

Vishwa Arya Arya & Co.

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or approach the ombudsman of the bank with a complaint and terms of settlement. you may also write to the board of directors for settlement

Answered on 8/26/10, 9:45 am

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