India  |  Social Security Law

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8/20/09, 3:20 am

Legal Question


HDFC bank has asked me to get this clause confirmed by the society in their NOC before disbursement of loan," We have no objection to your giving a loan to the said allotted / transferee / proposed transferee and his / here / their mortgaging the said flat to you by way of security of repayment." But society refused to give such confirmation. now the bank is not ready to disburse the loan. Please suggest me that do bank have rght to ask such things from society and do socity refuse to give this? also is society really having any role in mortgaging the flat?


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