Legal Question in Banking Law in India
one of our partnership firm got npa and it was provided with aseperate coleteralsecurity and the bank has approached drta for recovry.now i have closed my proprieter firm bank is not releasing the securities of prorieter firm saying one of the security holder in this firm is a partner in the other firm. can the bank do this when they have already approached the drta and theese properties does nothave any extended motagage to the partnership firm
Asked on 10/08/10, 9:58 pm
2 Answers from Attorneys
Vishwa Arya
Arya & Co.
Bank cannot do so, you may write to the bank ombudsman for it
Answered on 10/08/10, 10:05 pm
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
yes, the bank is within its rights to do it.
Answered on 10/09/10, 9:07 am
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