Legal Question in Banking Law in India
we have our term loan and cc limit in bank but due to non performance in turn over bank manager says we will NPA ur account where as we are paying our installments regularly.so what will happens when bank makes ur cc a/c NPA
Asked on 3/31/11, 2:44 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
in case your cc account is irregular, the bank will demand you to pay up the amount. You can then pay the same and regularize your account. Otherwise the bank can proceed under the SARFAESI Act for selling any immovable property given as security for the loan.
Answered on 4/02/11, 10:00 pm
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