LAWyersclubindia LCI
Login  Register
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

If auction is not held then recovery chages are not taken by bank

(Querist) 19 June 2013 This query is : Resolved 
Hello sir,
In a case Auction is planned by bank of NPA asset. But before auction held, party arrange money and pay to bank all that. Auction is not held but bank manager also want to collect recovery charges (arrangement of auction) from the party. Is bank recover this charges?
Report Abuse
Raj Kumar Makkad (Expert) 19 June 2013
The banker is right in its approach.
Nadeem Qureshi (Expert) 19 June 2013
its depend on the agreement between bank and the borrower.
K.K.Ganguly (Expert) 21 June 2013
1. Yes. The Bank is within its right to collect the recovery charges including the legal charges, if any,

2. Approach the Bank for waiving the same.

Previous
Next

You need to be the querist or approved LAWyersclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :



Ask Query
Unanswered Queries

Laws Follow us





Browse by Category

Stay updated with latest Posts!