Legal Question in Banking Law in India
Can a bank lend to a sole proprietorship of a trust.
if yes, are there any limitations. if no, why?
Asked on 2/16/17, 5:25 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
16.02.2017
Dear Sir / Madam,
Yes, a Bank is permitted to extend credit facilities to a sole trustee of a registered trust taking into consideration the purpose for which the credit facility is being sought and in keeping with the terms and conditions as laid out by the Bank for granting these facilities to the Trust.
Regards,
Answered on 2/16/17, 9:29 am
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