Legal Question in Banking Law in India

Re: Sarfaesi Act

There is no bar in accepting money at any point of time in response to the demand notice.

Re: Sarfaesi Act

We cannot understand your question. Please provide necessary facts before your raise a question.

Re: Sarfaesi Act

I think u r asking the question as a Banker. There is no bar or prohibition to receiving whatever is paid by the borrower even after issue of notice under SARFAESI Act in part payment without prejudice to the proceedings and full payment if it is forthcoming. No need to have a separate agreement for receiving money unless it is by way of one time settlement by payment of less than the amount of what has been demanded