Bank had sanctioned a secured term loan of Rs 100 lacs for construction of a building. Due to delay in completion of building, bank had recalled its loan after disbursing a loan of 20 lacs. On 30th June Bank had classified the loan as NPA with an overdue of Rs 12 lacs and total outstanding including interst, penal interst of rs 25 lacs as on 30.6.12. On 5th july Bank had issued notice of SERFASEI. On 22 nd August 2012, firm had deposited with Bank Total outstanding of Rs 25 lacs as on 30.6.12. Can the Bank charge interst for the period from 1st july to 22nd august, if yes then on which amout whether the total outstanding or overdue amount as on 30.6.12. Pl quote circulars of RBI in this regard.
