symbolic possition

Symbolic possession is situation under which creditors can take over the possession of the good mortgaged, normally seen in bank loan recovery.
but under Insolvency law a creditor can the debtor declared insolvent and get his money recovered through debtor's property.

Satyam
satyammishra181@gmail.com

Go to district magistrate and give him in writing so that he calls you during hearing...otherwise banks will get exparte order to take your physical possession.. Otherwise file section 17 in Drt if you think banks have done any wrong with you by charging excessive interest rates or breach of contract etc