LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

akshay patel (lawyer)     27 April 2010

mortgage

a Lease holder want to mortgage the land for getting loan for industrial purpose. can it be possible?

please note that the is alloted by collector for bonafide industrial purpose, to the lease holder.



Learning

 3 Replies

Raj Kumar Makkad (Adv P & H High Court Chandigarh)     27 April 2010

Yes. He can do so but the permission of lessor is necessary.

Partha Bhattacharyya (Proprietor)     27 April 2010

I had taken a C.C. from loan from bank in 2003. My mother mortgaged her property .

She died in 2004.I informed the bank in writing.I have one sister and a brother.

The bank again  enhanced the 2005.They made me sign documents.

The bank again enhanced the loan in 2006.

In 2007 the bank declared my A/C N.P.A. on ground that I was irregular .Then in march they gave me notice under SARFACI act.( 13(2). The bank without going u/s 13(4) has put a petition u/s 14 in the Ld.DM's court to take possession the same property.

What should I do? 

bhagwat patil (Property due diligence 9422773303)     28 April 2010

Bank cannot  take physical possession.at this stage


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register