Legal Question in Banking Law in India

can the assets of an NPA Limited company be sold to the representatives of the director of defaulter NPA limited company.?

Asked on 7/01/13, 4:59 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP

01.07.2013

Dear Sir / Madam,

The SARFAESI Act, 2002 gives sweeping powers to banks and financial institutions to recover their overdue. Under the circumstances, it remains at the bank's discretion whether to sell the assets of the NPA limited company to the representatives of the director of the defaulter.

Regards,

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Answered on 7/01/13, 5:06 am


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