DEar sir, i took a loan of 38 lakhs term loan and 11 lakhs working capital loan coverved under cgtmse scheme on 2013. From starting i was unable to pay my loan tenure and now it is declaed as NPA. My staffs also not suported me. Now bank is asking for money but i m not in a condition to repay their payment. They already sent 2 legal notices to me and published once in newspper by debts recovery tribunal. Without bank knowledge i also shifted my organisation to other place. So please tell what bank will take action and what steps i have to take.

Have you replied the notice u/s. 13(2) SARFAESI Act? bank can start recover propcess by taking possession of mortgage property and thereafter by making sale of the propety. And if any amount remained due (Which generally remains due as banks sell mortgage property under valued) then bank shall recover the same from you, your property and your guarantor. If required consult a lawyer with details. 

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