Serfaci Act

Querist : Anonymous (Querist) 27 May 2011 This query is : Resolved
I take a bank loan from bank in way of---
-- Term Loan,
-- Cash credit Limit..

When i take Bank Statement from bank they gave two separate bank statements i.e. one of term loan account statement and other is cash credit limit statement. So is they are two separate account?

Further there is a provision under Sarfeasi Act that if a client does not pay 20 % of loan amount then applicability of serfaci act is apply to him.

So how the calculation of under sarfaci act made..

Is 20 % is calculated on term loan & CC Limit separately or Jointly?

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