Legal Question in Banking Law in India
I have SOD account in Bank. My account is notified as NPA. Kindly advise what should I do?
Asked on 11/13/09, 2:42 am
3 Answers from Attorneys
Seshadri Srinivasan
www.lawconcern.com
Why the account was notified as NPA?
Answered on 11/13/09, 2:56 am
J. Radhakrishnan
independent Practice
As there should have been overdrawing and the debit balance in the account not being paid off, it would have been classified as NPA. Pay off the debit balance and bring the account to credit.
Answered on 11/13/09, 11:24 pm
Pravin Vaidya
Independent
pay the irregular-overdue amount in the overdrawing account and regularise the position to avoid legal action in future
Answered on 11/14/09, 8:13 am
Related Questions & Answers
-
One of my friend who is not a registered financiar has lent 5.5 lacs rupies to me in... Asked 11/12/09, 1:37 pm in India Banking Law
-
We have purchased the Assets from the IFCI ltd and sale letter has been issued. The... Asked 11/12/09, 7:59 am in India Banking Law
-
What is the stamp duties pay for registree of simple mortage deed Asked 11/11/09, 11:00 pm in India Banking Law
-
State Bank of India is asking for sale deed/agreement of Sale for giving homeloan.we... Asked 11/11/09, 10:43 am in India Banking Law
-
One Officer of a Regional Rural Bank is said to be caught taking bribe by state... Asked 11/09/09, 7:37 am in India Banking Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
