Legal Question in Banking Law in India
When & Why is the SARFAESI letter act invoked?
When does the bank sent SARFAESI letter to there customer ?
Asked on 9/11/09, 1:51 pm
2 Answers from Attorneys
when they did not payback loan amount taken from bank against any loan and mortgaged the property or gave any security.
Regards
Answered on 9/12/09, 12:49 am
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
The Bank is entitled to invoke the Act after the account becomes NPA.
Answered on 9/13/09, 4:58 pm
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