Business

sima (Querist) 30 May 2015 This query is : Resolved
Hello..i want to know if a bank can adjust FD against a BG (not invoked but expired) in a term loan(loan has become NPA).

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Sudhir Kumar, Advocate (Expert) 31 May 2015
vague query.

P. Venu (Expert) 31 May 2015
Please state the complete facts.

Dr J C Vashista (Expert) 01 June 2015
Hello,
Did you ask from your banker/CA?

Anirudh (Expert) 01 June 2015
Yes, the bank can do it.

Rajendra K Goyal (Expert) 02 June 2015
Yes, Bank can do so.

malipeddi jaggarao (Expert) 05 June 2015
Guarantee period is expired. There is no invocation. That means the FD is free. Bank has got right of lien and right of set-off and appropriation to adjust any deposit in the overdue accounts if both the accounts are in the same nomenclature.

T. Kalaiselvan, Advocate (Expert) 09 June 2015
Agreed with the vies of expert Mr. Malipeddi Jagga Rao, the banks can go ahead to recover the dues to it.

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