SARFAESI Act,2002

diganta (Querist) 27 February 2009 This query is : Resolved
whether all the accounts can be declared as NPA by the bank if one of the account has been declare as NPA earlier under the SARFAESI Act.

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J. P. Shah (Expert) 05 March 2009
yES. IF ONE ACCOUNT IS NPA, ALL OTHER ACCOUNTS OF SAME LOANEE WILL BE TREATED AS NPA, AS PER RBI GUIDELINES ON CLASSIFICATION OF ASSETS

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