a Lease holder want to mortgage the land for getting loan for industrial purpose. can it be possible?
please note that the is alloted by collector for bonafide industrial purpose, to the lease holder.
akshay patel (lawyer) 27 April 2010
a Lease holder want to mortgage the land for getting loan for industrial purpose. can it be possible?
please note that the is alloted by collector for bonafide industrial purpose, to the lease holder.
Raj Kumar Makkad (Adv P & H High Court Chandigarh) 27 April 2010
Yes. He can do so but the permission of lessor is necessary.
Partha Bhattacharyya (Proprietor) 27 April 2010
I had taken a C.C. from loan from bank in 2003. My mother mortgaged her property .
She died in 2004.I informed the bank in writing.I have one sister and a brother.
The bank again enhanced the 2005.They made me sign documents.
The bank again enhanced the loan in 2006.
In 2007 the bank declared my A/C N.P.A. on ground that I was irregular .Then in march they gave me notice under SARFACI act.( 13(2). The bank without going u/s 13(4) has put a petition u/s 14 in the Ld.DM's court to take possession the same property.
What should I do?
bhagwat patil (Property due diligence 9422773303) 28 April 2010
Bank cannot take physical possession.at this stage
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