Npa
Querist :
Anonymous
(Querist) 11 August 2018
This query is : Open
Can NPA be done after issuing loan recall notice I have taken a loan in September 2009 due to some delay in payment of EMI Bank issued a loan recall notice on 21st February 2011 after that they have initiated arbitration proceedings in which an ex Parte award has been awarded against me meanwhile on 30th April 2011 Bank declared me NPA . In August 2016 Nbfc's were given the power of Surfesi . So they issued a notice under section 13(2) which is under challenge in Civil Court my questions are can they issue notice under section 13(2) as arbitration award is already under challenge and They were given the power of surfesi in 2016 and my agreement was done in 2009 can I challenge notice under section 13 (2)on the ground that they have declared me as npa after issuing loan termination /recall notice
