regarding section 114B of IT tax

Sanju (Querist) 23 October 2016 This query is : Resolved
Dear Sirs,
I am doing as Branch Manager in SBI , one of the borrower had availed CC limit from my branch gone NPA 3 years back. Last year the bank had to do 100% provisioning for the loan and declare it loss asset in its books. We had file a civil suit against the borrower. When I scruitnised the document I found the borrower's father who had guaranteed the repayment of the loan is having a substantial deposit in his saving account. My querry is that whether The bank can debit the guarantor's account for the recovery of the loan or we have to get it attached by suitable court orders ?
regards

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adv.bharat @ PUNE (Expert) 23 October 2016
As per bank recovery provision you can recover it.

Rajendra K Goyal (Expert) 23 October 2016
SBI has full fledged legal cell at Zonal Office, expert staff in Regional office and professional lawyer at almost every station as legal adviser. Take their guidance.

Please confirm whether his father is a guarantor in the loan?

If yes, Mark hold in the accounts of father, inform to controllers, take permission from controllers (to keep you in safe side), by hand and recover. Practically controllers avoid giving such permission.

You should take legal opinion from Bank Lawyer and enclose.

Rajendra K Goyal (Expert) 23 October 2016
What is the relation of heading with the facts of query?

adv.bharat @ PUNE (Expert) 23 October 2016
Bank lawyer can guide you about it.

Kumar Doab (Expert) 23 October 2016
You have posted that:

"When I scruitnised the document I found the borrower's father who had guaranteed the repayment of the loan is having a substantial deposit in his saving account. "

Rest Mr. Goyal has guided you.

Guest (Expert) 23 October 2016
Academic query.

If you are a branch manager in SBI, why don't you ask your own legal department?

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