Legal Question in Business Law in India
my cc a/c of 34laks was over in feb 10 by 5.35 l deposited 3.75 laks in march but ac was not operated on now again bank has sent me letter for 3.23 laks or they will enforce sarfesi pls. advise as i don't have any money and property worth 80 laks is mortage with the bank for this cc limit of 34 laks. pls. comment.
Asked on 5/21/10, 11:48 pm
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
You may seek bank's permission to sell the property by 'private sale' instead of Bank selling the same by auction under SARFESI ACT.
Answered on 5/21/10, 11:54 pm
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