Legal Question in Banking Law in India

A bank assigns a loan to another, while in criminal proceedings for that loan under Section 138, Negotiable Instruments Act. What is the consequence of this?

Asked on 6/21/13, 12:46 am

2 Answers from Attorneys

Pravin Vaidya Independent
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Bank will have to prove that dues represented by returned cheque are part of loss suffered by Bank in selling/assigning the debt

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Answered on 6/21/13, 7:23 am
Fca Prashant Chavan Expert Edge LLP
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21.06.2013

Dear Sir / Madam,

The Sarfaesi Act of 2002 has given sweeping powers to banks to action loan recovery.

Regards,

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Answered on 6/21/13, 7:41 am

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