Legal Question in Credit and Debt Law in India

Dear Sir,

I have applied for working capital loan for my garment export business from our bank and offered my agri land as collateral for the same. Our bank refuse to accept the agri land as collateral because SARFEASI act doest not apply.

My firm is a MSME unit. I have no other property. pls explain how can i get the loan?

thanks in advance

best regards

V. Sivaraj


Asked on 9/01/11, 3:56 am

2 Answers from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

loan depends upon the bank and not lawyers.

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Answered on 9/06/11, 2:56 am
Sanjay Kalra Sanjay Kalra & Associates

make a good viable project report which convinces the bank that you would pay the loan amount in fixed time and if satisfied the bank would give you loan.

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Answered on 9/08/11, 3:35 am


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