Defaulter under CGTMSE

Querist : Anonymous (Querist) 26 October 2010 This query is : Resolved
Can a bank report the names of individual directors to CIBIL for an NPA (defaulter) loan advanced to a Pvt. Ltd. company under the CGTMSE scheme? The amount of disbursed loan is Rs. 34 lakhs and regular instalments have been paid for a year

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R.Ramachandran (Expert) 26 October 2010
Yes, the Bank can do it.

Devajyoti Barman (Expert) 26 October 2010
Yes. The Directors are responsible for acts of the Company.

Khaleel Ahmed Mohammed (Expert) 26 October 2010
Any irregularity committed by the authorities of the bank will be held responsible for their acts.

s.subramanian (Expert) 30 October 2010
I agree with Mr.Ramachandran and Mr.Barman.

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