SARFESI

P.S.Subbaraman (Querist) 19 September 2009 This query is : Resolved
When the Bank has taken possesion of the property under SARFESI by adopting all the procedures . Is the Bank justified in charging interest after taking possession of the property ?riven

Follow Query

Report Abuse

J. P. Shah (Expert) 19 September 2009
Yes, bank is entitled to interest till loan is fully repaid, irrespective of procedures adopted for recovery.riven

Bhumik Dave (Expert) 19 September 2009
As per act bank is entitled for interest.riven

Adinath@Avinash Patil (Expert) 20 September 2009
As per Banking Regulation Act & Sarfesi Act & guide lines of Reseve Bank of India Bank is entitled to take interest till the repayment of laon due amount.riven

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 :

Member Strength 986918 and growing..

Stay updated with latest Posts!

Trouble Logging in? Try following the given steps -
1. Visit your inbox to find a confirmation mail from LAWyersClubIndia.
2. Click on the confirmation link and confirm your signup

New users who have not received email verification mail click here to verify