If auction is not held then recovery chages are not taken by bank

preet (Querist) 19 June 2013 This query is : Resolved
Hello sir,
In a case Auction is planned by bank of NPA asset. But before auction held, party arrange money and pay to bank all that. Auction is not held but bank manager also want to collect recovery charges (arrangement of auction) from the party. Is bank recover this charges?

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Raj Kumar Makkad (Expert) 19 June 2013
The banker is right in its approach.

Nadeem Qureshi (Expert) 19 June 2013
its depend on the agreement between bank and the borrower.

K.K.Ganguly (Expert) 21 June 2013
1. Yes. The Bank is within its right to collect the recovery charges including the legal charges, if any,

2. Approach the Bank for waiving the same.

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