Legal Question in Banking Law in India

Negative Lien- Can the Bank attach property under negative lien where title deeds are with the borrower and property is not mortgaged?

Asked on 3/14/13, 6:06 am

0 users found helpful

0 attorneys agreed

14.03.2013

Dear Sir / Madam,

The SARFAESI Act has given wide ranging powers to banks for recoveries of NPAs. Attachment of such a property by the bank would require Court orders.

Regards,

FCA Prashant Chavan

Mumbai

(You can also mail me for any further on-line advice at [email protected])

Answered on 3/14/13, 7:04 am

J. Radhakrishnan independent Practice

0 users found helpful

0 attorneys agreed

It has to be done in a recovery proceeding in DRT or civil court

Answered on 3/15/13, 4:36 am

Jayesh Desai Jayesh Desai

0 users found helpful

0 attorneys agreed

Yes, bank can attach the property by following due process of law.

Answered on 3/15/13, 10:43 am

Keywords

Match Any Match All

Country

State

Area of Law