Three properties commonly secured to three different accounts

Nishant Jojhra (Querist) 24 January 2017 This query is : Resolved
Three securities are common to the limits sanctioned to three different accounts. All the three accounts slipped to NPA. First two account became NPA during August, 2016 and Symbolic Possession of the property are taken on Nov. 2016. Third account slipped to NPA in Oct 2016 and due date of the Symbolic Possession is due.

Now whether the bank should take the symbolic possession of the properties again for the third account?

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H.M.Patnaik (Expert) 24 January 2017
Are you a banker? If yes, then consult your own legal deptt. with docs.

Ms.Usha Kapoor (Expert) 25 January 2017
Agree with HM.Patnaik.

Rajendra K Goyal (Expert) 30 January 2017
Agree, if you are a Banker, please refer all matter to your controllers / law department and get clear direction in the matter otherwise, Bank may proceed against you if anything goes wrong.

If not, Bankers have general lien on securities for all loans due to a borrower.