Legal Question in Banking Law in India
One of my friend was taken a education loan for the bank. His father was a guarantor. After sometime loan account was npa. At the same time bank adjusted his father's (Guarantor) bank fix deposit in loan account. My question is, how is it possible? can the bank taken a legal step? can we claim this fixed deposit back?
Asked on 9/08/10, 6:42 am
2 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
fix deposits are security of the loan and cannot be taken back.
Answered on 9/09/10, 12:09 am
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