Foreclosure charges on working capital limits

Manish (Querist) 09 August 2017 This query is : Resolved
Dear sir

Please give your comments if foreign banka are allowed to charge foreclosure charges on working capital limits ?

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R.K Nanda (Expert) 09 August 2017
state real facts , if any, to get proper reply.

Advocate Suneel Moudgil (Expert) 09 August 2017
put query containing complete facts

kavksatyanarayana (Expert) 09 August 2017
Your query is not clear to get proper advise.

Rajendra K Goyal (Expert) 10 August 2017
Please read the loan agreement and service charges leaflet.

Manish (Querist) 11 August 2017
Sir bank gave us limit on june 10th 2016 in sanction letter it said 2% prepayment charges which we cutted and accepted rest of sanction letter

Now due to that cut of clause bank dropped our limit after 6 months and told us to accept new sanction letter to reinitiate limit to which we did not agree and wr changed ou bank

Now for property release bank is askin for prepayment or foreclosure charges

Manish (Querist) 12 August 2017
Sir bank gave us limit on june 10th 2016 in sanction letter it said 2% prepayment charges which we cutted and accepted rest of sanction letter Now due to that cut of clause bank dropped our limit after 6 months and told us to accept new sanction letter to reinitiate limit to which we did not agree and wr changed ou bank Now for property release bank is askin for prepayment or foreclosure charges

Guest (Expert) 12 August 2017
Examination of terms of agreement is necessary to arrive at some appropriate opinion. You can also go through that and check about the provision of foreclosure charges to make yourself aware of the same and act accordingly.
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