Legal Question in Banking Law in India
In case of commercial vehicle Theft hypoticated with cooperative Bank, can a bank charge interest from the time of intimation of theft till the settlement of the claim
Asked on 7/31/09, 6:54 am
4 Answers from Attorneys
J. Radhakrishnan
independent Practice
Theft of vehicle won\'t stop accrual of interest. After all it is only interest that interests a bank and co.operative Bank is no exception. The hypothecation remedy is only optional for the bank and the loss of security at the hands of the borrower won\'t mitigate the interest.
Answered on 7/31/09, 7:38 am
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
I agree with the above opinion.
Answered on 7/31/09, 9:15 am
Pranav Desai
PD Legal & Associates
There is nothing to stop interest
Answered on 8/01/09, 5:17 am
Pranav Desai
PD Legal & Associates
There is nothing to stop interest
Answered on 8/01/09, 5:17 am
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