Legal Question in Banking Law in India

Non performing asset
Bank give me a notice on dated 25jul05 as per RBI rules classified NPA and demand Rs.8769071.97. I pay Rs.5000000 on dated 20aug05 . On Dated 25oct05 Bank give me a another notice classified NPA your account as per RBI guidelines and demand Bal.Rs. 4951000

Asked on 6/16/08, 9:06 am

7 Answers from Attorneys

Pravin Vaidya Independent

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Re: Non performing asset

What is your question?

If you have any reservation about Bank classifying your a/c. as NPA as per RBI guidelines, whether you have discussed this matter with the bank or its higher authority to solve the issue. If not pl. do it now and then come with your question

Answered on 6/17/08, 12:36 pm

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G. M. Gupta gmguptaandassociates

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Re: Non performing asset

cant advice on this detail. ask properly

Answered on 6/16/08, 9:35 am

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Manish Dhingra Legal

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Re: Non performing asset

Please state the facts clearly.

Answered on 6/16/08, 11:08 am

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Homi Maratha N.N. Maratha & Co.-Advocates

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Re: Non performing asset

Please re-word your question.

Answered on 6/16/08, 1:04 pm

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J. Radhakrishnan independent Practice

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Re: Non performing asset

Merely because you made a part payment, the account does not cease to be a non performing asset when it has already been classified as such as per RBI guidelines.

Answered on 6/16/08, 10:16 pm

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