Legal Question in Banking Law in India

n.p.a.

Ihave taken a loan for rs, 4000000/ from P.N.B.& expected to start the production from oct.08, but it can't & now the production is starting from july09, but now my bank says that your case comes under N.P.A.now i submitted a new project for the term loan 2, but the bank says that first you pay the installment(sum+int.) then we will proceed your file for the term loan2,so kindly advice me that whether i am in N.P.A.catagory or not. waiting for your reply.


Asked on 6/09/09, 2:28 pm

6 Answers from Attorneys

Pranav Desai PD Legal & Associates

Re: n.p.a.

Cheque the sanction letter in respect of the repayment schedule for the 1st loan. If you have defaulted then it is likely you may be in the NPA list. In that case the action of the bank is genuine.

In such situation you may have to approach the bank and get the payment rescheduled, if possible.

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Answered on 6/11/09, 5:45 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: n.p.a.

Your facts are not sufficient for appropriate guidance. To reach a conclusion about NPA stage, it may be requried to peruse your loan documents and account statements. The necessary guidance can thus be provided only after reading your documents.

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Answered on 6/10/09, 4:13 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: n.p.a.

Your facts are not sufficient for appropriate guidance. To reach a conclusion about NPA stage, it may be requried to peruse your loan documents and account statements. The necessary guidance can thus be provided only after reading your documents.

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Answered on 6/10/09, 5:01 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: n.p.a.

Your facts are not sufficient for appropriate guidance. To reach a conclusion about NPA stage, it may be requried to peruse your loan documents and account statements. The necessary guidance can thus be provided only after reading your documents.

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Answered on 6/10/09, 5:01 am
RAMAN KUMAR BHARDWAJ R.K. BHARDWAJ & ASSOCIATES

Re: n.p.a.

yes, you are, you are bound by the agreement entered into with the bank and if you violate or make default in the payment of installments , they throw you in the NPA list. and with in six months, they can proceed under the SARFESI ACT

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Answered on 6/10/09, 9:39 am
J. Radhakrishnan independent Practice

Re: n.p.a.

Non payment of interest or instalment of the principal could enable the bank to classify the first loan as NPA. Better approach the Bank for rephasement of the repayment schedule explaining intelligibly the reasons for delay.

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Answered on 6/10/09, 9:34 pm


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