Legal Question in Banking Law in India

can the bank close personal loan if the employee resigns from the company which

gives as undertaking


Asked on 9/06/12, 9:24 am

2 Answers from Attorneys

Aniruddha Pawse Aniruddha.P.Pawse Advocates

If the Company has informed the Bank about your resignation and you fail to pay installments then it may be at Bank's discretion to take suitable action.

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Answered on 9/06/12, 10:21 pm
J. Radhakrishnan independent Practice

Merely because the employee resigned from the company which has undertaken to deduct repayment installments from his salary, the bank cannot recall the loan, if otherwise the employee does not default in repayment

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Answered on 9/08/12, 6:11 am


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