deepak meena 08 September 2018

CGTMSE

If there is a delay in reporting of NPA in CGTMSE (I.e. could not be reported in subsequent quarter of account turning NPA), is there any way we can get it reported ? if not then how can banker defend himself in such case ?

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SOLOMON.RAJ (advocate/director) 12 September 2018

Once it falls under NPA the banker hasa good ground to defence as the three months notice itself stands good defence in the bankers favour.

All you can do is to approach the legal.team.of the bank offering to pay the due balance and clear the NPA amount so you can seek a relief and save the property from.being auctioned.

Please refer to SARFAESI ACT.

Adv. Solomon Raj,
Attorney at Law,
Bharat Gaurav samman awardee 14
AICC National Legal Chairman.
email:rajcarey@yahoo.com
phn:9866545086