Saman of warrant in loan

Where any borrower, who is under a liability to a secured creditor under a security agreement,makes any default in repayment of sedcured debt or anay instalment thereof, and his account in respect of such debt is classified by the secured creditor as NPA,then, the secured creditor may require the borrower by notice in writing to discharge in full his liabilities to the secured creditor within sixty days from the date of notice U/S.13(2) of the SARFAESI Act,2002.

 

    

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