Dear Friends,
We are a Housing Finance Company notified as secured creditors. We are governed by NHB. My question doubts are
1) Is there any guide line prescribed by NHB for Housing Finance Companies with respect to NPA?
2) If an account becomes NPA and Notice under section 13(2) of the SARFAESI Act is issued, subsequently, the account becomes a performing account. Later the account becomes an NPA again, now what is the legal status? Should we issue 13(2) notice again? or By virtue of the notice sent earlier, can we proceed under SARFAESI Act?
Can the learned members pls enlighten me with justifications and citations?
