CITATION Related to NPA
MD JAMAL MUSTAFA
(Querist) 08 December 2013
This query is : Resolved
My A/C has been NPA. Before DRT In ordetsheet Bank's lawyer has mentioned outstanding amount 1.40 LAC at the time ofNPA. SARFAESI NOTICE issue against me RS. 4.70 LAC. After that lhave deposited Rs. One lac and two lac thirty five thousands . DRT give the order to me for depositing the Rs. 40/- thousands. Again . But I have not deposited the amount .So guide me and give direction how to recover the extra deposited. Any Ruling after NPA give me direction
THANKS
Nadeem Qureshi
(Expert) 08 December 2013
contact a lawyer for case law
R.K Nanda
(Expert) 08 December 2013
search indiankanoon.com
Rajendra K Goyal
(Expert) 08 December 2013
Citation not provided at this section.
After an account is classified as NPA, application of interest and expanses is stopped. Bank is legally entitled for such interest and expanses. After recovery only these are debited in account and shown as recovered. You can find the procedure in RBI Guidelines / Master circular.
Account may be showing as NPA amount 1.40 lacs, but total liability including interest and expanses may be 4.70 lacs which is liability.
ajay sethi
(Expert) 08 December 2013
we dont provide citations .
K.K.Ganguly
(Expert) 09 December 2013
1. After the account has been classified as NPA, interest has accrued but was not charged as per law,
2. At the time of issuing the Demand Notice u/s13(2) of SARFAESI Act,2002, the Bank has demanded Rs.4.70 Lakhs being the total dues with updated interest,
3. DRT was right in directing you to pay the balance Rs.40 Thousand to the Bank.
4. You have not deposited anything extra to claim it back,
5. Now, if you do not pay the said Rs.40 K, further interest will be charged on it,
6. Pay it off & get rid of the problem for good & get the title of your mortgaged property back.
K.K.Ganguly
(Expert) 09 December 2013
1. After the account has been classified as NPA, interest has accrued but was not charged as per law,
2. At the time of issuing the Demand Notice u/s13(2) of SARFAESI Act,2002, the Bank has demanded Rs.4.70 Lakhs being the total dues with updated interest,
3. DRT was right in directing you to pay the balance Rs.40 Thousand to the Bank.
4. You have not deposited anything extra to claim it back,
5. Now, if you do not pay the said Rs.40 K, further interest will be charged on it,
6. Pay it off & get rid of the problem for good & get the title of your mortgaged property back.
T. Kalaiselvan, Advocate
(Expert) 09 December 2013
