SARFAESI ACt

preet (Querist) 04 May 2011 This query is : Open
I have been sanctioned a term loan & cash credit limit of Rs.20 lacs & Rs 5 Lacs respectively. We have availed the full term loan of Rs. 20 lacs. But cash credit limit partially to the extent of Rs. 1.25 lacs only.

According to securitisation and reconstruction of financial assets and enforcement of security Interest Act.2002. u/s 13 (2) of serfaesi. This section will be implement when the amount has been gone up minimum 20 % extra.
Now please guide me which amount will be counted:20 lacs or 25 lacks to calculate the 20 %.
Thanking u

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