Legal Question in Banking Law in India

whether liabilities of a person can be recalled in parts or they should be recalled in one go and in case the liabilities are not recalled in one go, the lender will have recourse to recall other liabilities or he will have to forego his right of recall on pending liabilities.

Asked on 8/27/13, 5:34 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP
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27.08.2013

Dear Sir / Madam,

Recalling liabilities in part or in one go depends on the mutually agreed terms between the lender and the borrower. There is no prevalent rule for the lender foregoing his / her right to recall liabilities.

Regards,

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Answered on 8/27/13, 5:50 am

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