attachement

kanwar Lal (Querist) 08 July 2009 This query is : Resolved
if borrower having only one residintial flat and he is living with his faimily in this flat but there is not any HP agreemet with the bank. can bank/nbfc attach the house of the borrower after getting arbitration award if he is insolvent?
if no plz mentione latest authority regarding this matter.

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SANJAY (Expert) 11 July 2009
If you borrowed money from bank then bank can attach your property if you are defaulter. Bank can attach the house of borrower after getting arbitration award.

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