Legal Question in Credit and Debt Law in India
bank loan interest
is the lender obligated to raise invoice for payment of interest and instalment specifying due date?
Asked on 8/01/07, 7:51 am
4 Answers from Attorneys
Homi Maratha
N.N. Maratha & Co.-Advocates
Re: bank loan interest
no there is no such obligation
Answered on 8/06/07, 7:36 am
kavitha balakrishnan
kpp associates
Re: bank loan interest
in case of nationalised bank it is obligatory by their own rules otherwise it is not!
some banks prefer to send notice only incase of default!
Answered on 8/03/07, 12:29 am
G. M. Gupta
gmguptaandassociates
Re: bank loan interest
yes if you want to do it legally then all details are required to be given.
For further detailed advice please contact in person. Consultation charges shall apply.
Answered on 8/02/07, 9:00 am
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