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?
2 Answers from Attorneys
Bank will have to prove that dues represented by returned cheque are part of loss suffered by Bank in selling/assigning the debt
Dear Sir / Madam,
The Sarfaesi Act of 2002 has given sweeping powers to banks to action loan recovery.
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