Recalled notice
Garvit Pahwa
(Querist) 18 March 2021
This query is : Resolved
We got a notice that your entire loan has been recalled, please help me with more details what next the bank will do
ashok kumar singh
(Expert) 29 March 2021
recall notice as served by bank on you, it means now the bank can proceed under SERFESAI ACT 2002, to take possession of the immovable property, and or to proceed in the arbitration and conciliation Act' 1996, and in any other suitable proceeding before the competent court of law to recover their dues, and interest thereon with in addition to other expenses, etc.
therefore you, may serve them a suitable reply, and in the event you find the recall notice is not proper, then move before the competent court of law to set aside such recall notice of the Bank.
it is advisable to meet with the Learned Advocate at you vicinity, and accommodate with your necessary detailed facts, as to have way resolve issues at earliest.
thanks
ashok kumar singh
advocate
email : aksinghadvocate@rediffmail.com
