Legal Question in Real Estate Law in India
how to get rid from surfaesi act, my a/c is going to be npa and i am unable to pay the debts. i want that bank will reconstruct that limit loan, i have got huge lossin business. how much timebank can give to repay that loan or tell me can bank reduce the interest on that also.
4 Answers from Attorneys
You can approach Bank for amicable settlement and i am sure they would do the need ful. Engage a lawyer who would guide you and formulate a strategy too......Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.
For restructuring a debt - it is the discretion of the concerned bank to do so. If you go with a feasible repayment plan; no wise banker will ever reject the same. But it cannot be enforced by law.
Repay the loan and be out of recovery proceedings.
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