Legal Question in Banking Law in India
We have pvt ltd company our loan account with bank is classified as NPA also we have been served 60 days notice under securitsation act.
is it posible to approach the bank at this stage to workout a restructure package for us and what to do for the same also what if bank refuses
Asked on 4/07/12, 3:02 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
It is possible to approach the bank for restructuring. You must also give a reply contesting the amounts etc, in consultation with your lawyer within 60 days of the receipt of notice.
Answered on 4/07/12, 6:23 am
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