SARFAESI
preet
(Querist) 24 May 2011
This query is : Open
I have sanctioned a loan of 20.00 Lacs and cash credit limit of 5.00 Lacs The loan and limit was sanctioned against a property and same time. But The bank had given me full loan,but cash credit limit disbursed partially. I have given many reminder to bank for full disbursement of cash credit limit.But the bank has refused my request my dues gone up 26.00 lacs.The bank issued me SARFAESI notice U/S 13(2).
according to SARFAESI act the notice will be issued only when the dues are 20% of the principal.
Now my question is which amount will be calculated as basis for dues 20.00 lacs(only loan amount) or 20.00 (loan amount)+5.00 lacs (cash credit amount)=25.00 Lacs
