hello there
a house loan was taken in year 2009 @ 9% p.a. of rs 6 lakhs. till 28/03/12, the account statement shows balance as 5,58,000/-.
if such a case if fit for sarfaci notice?
in case, yes, what shall be the solution ?
regards
arvind
arvind (Promoter) 02 June 2012
hello there
a house loan was taken in year 2009 @ 9% p.a. of rs 6 lakhs. till 28/03/12, the account statement shows balance as 5,58,000/-.
if such a case if fit for sarfaci notice?
in case, yes, what shall be the solution ?
regards
arvind
VINOD VERMA (C E O) 02 June 2012
All depends on your repayment agreement with the lender. If were to make payments of EMI's and have defaulted, the lender may take shelter under sarfaesi act 2002 and take symbolic possion of the asset and get the same auctioned. It would be better to go for a resturcuturing of your loan account after getting a proper valuation of your asset under them as Security.If they proceed under the above act, immediately seek stay from the competent court of law (Debts recovery tribunal) and give them your definate repayment schedule to save your security
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