Legal Question in Credit and Debt Law in India

What if a customer first took Home Loan and later apply for cash credit facility by providing the same mortgaged property as collateral, within same Bank. What type of of charge should be created?


Asked on 4/03/13, 8:26 am

3 Answer from Attorneys
Jayesh Desai Jayesh Desai

No sane bank would grant additional loan unless the security is adequate. It is a commercial call which that bank has to take.

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Answered on 4/03/13, 10:29 am


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