SARFESI

P.S.Subbaraman (Querist) 19 September 2009 This query is : Resolved
When the Bank has taken possesion of the property under SARFESI by adopting all the procedures . Is the Bank justified in charging interest after taking possession of the property ?riven

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J. P. Shah (Expert) 19 September 2009
Yes, bank is entitled to interest till loan is fully repaid, irrespective of procedures adopted for recovery.riven

Bhumik Dave (Expert) 19 September 2009
As per act bank is entitled for interest.riven

Adinath@Avinash Patil (Expert) 20 September 2009
As per Banking Regulation Act & Sarfesi Act & guide lines of Reseve Bank of India Bank is entitled to take interest till the repayment of laon due amount.riven

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