Prepayment charges on cc limits in takeover

Gaurav Kanodia (Querist) 19 September 2014 This query is : Resolved
Dear Sir
I have CC Account with PNB Bank which was running good Now the New AGM Cam & he couldnt full fill our requirements

so we decided for takeover

Now They are resisting in giving property papers & showing me sanction letter in which it says that prepayment charges @2% will be their in case of takeover

The Sanction was for one year period & never renewed ie the Sanction was from 26th June 2013 for One Year & takeover happened on 15th September

can they take charges

Also We have unused Bank gurantee returned to bank in which they have charged nus full commission will we get refund charges for unused quaters

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T. Kalaiselvan, Advocate (Expert) 27 September 2014
The agreement condition are to be seen for rendering a proper opinion. Better consult a local consultant/auditor and proceed.

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