Legal Question in Banking Law in India

A property has been charged as the legal mortgage in favour of the Bank for a credit limit. Now the borrower wants to enhance his credit limit to some extent by creating the equitable mortgage on the property already kept with the bank as the legal mortgaged. Can the bank give it consent ?


Asked on 3/26/14, 2:21 am

3 Answers from Attorneys
Rajiv Chandhok Ph: +919810050896 https://www.linkedin.com/in/rajiv-chandok-0827b733/

The bank can but it may not grant consent as it is in their discretionary power. You may drop in a detailed query at [email protected]

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Answered on 3/26/14, 6:00 am
Fca Prashant Chavan Expert Edge LLP

26.03.2014

Dear Sir / Madam,

Yes, the bank can consent to a review and increase in the facilities.

Regards,

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Answered on 3/26/14, 8:32 am
veerabahu kannan

It is the discretion of the bank.

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Answered on 3/27/14, 3:42 am


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