Legal Question in Banking Law in India
my loan is transferred to arcil and arms by icici bank,they given us noctice under sarfaesi act sec13(2) & 13(4). my question is whether icici has sold the loan to arcil and arms or icici bank has appointed them to recover the loan from us??r arcil and arms working for them or they are independent from icici bank??
Asked on 7/17/12, 8:42 am
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
ICICI Bank has sold the debt owed by you to ARCIL. ARCIL in terms of their ownership have appointed ARMS to assist them in recovery. They are independent of ICICI Bank Ltd. and you will have to deal with them in respect of your loan.
Answered on 7/17/12, 11:25 am
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
i agree with Adv Radhakrishnan
Answered on 7/18/12, 3:13 am
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