Legal Question in Banking Law in India
Whether under securitisation act 2002 a bank can attached guarantors property before taking any action against the borrower for attachment of his prperty which is mortgage with the bank
Asked on 8/09/10, 8:49 am
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
If the property of the guarantor is not mortgaged to the Bank, it cannot be attached under the Securitisation Act.
Answered on 8/09/10, 10:58 am
Pravin Vaidya
Independent
If the property of the guarantor is mortgaged to the Bank, it can certainly be attached under the Securitisation Act.
Answered on 8/10/10, 9:28 pm
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