Regarding cash credit limit

Aleem Saeed Khan (Querist) 03 August 2016 This query is : Resolved
Sir,
It is requested to please send me the reply regarding Cash Credit Limit from state Bank Of India, security as my land. that I applied for said loan but SBI Authority have raised objection that our land is not under the conversion act 143.

But instead of Conversion act 143 I have submitted documents received from Moradabad Development Authority that my land is commercial land and constructed fully.

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adv.bharat @ PUNE (Expert) 05 August 2016
You need to consult bank credit officer since he know well about credit policy & its documents required.

Rajendra K Goyal (Expert) 05 August 2016
Discuss and satisfy the State bank of India legal adviser. If Bank has not sought the legal report prey the Bank to obtain the same.

rajeev sharma (Expert) 05 August 2016
Declaration u/s 143 ZALR (old) is required to put agricultural land to some non agricultural use. Since your land is already put to other use and as per town plan is of commercial use no declaration under that section is required. Discuss with law officer of bank and take the objection on writing so that you may seek legal opnion from an advocate

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