I have made equitable mortgage of my house property with nationalised bank in 1999. I request members to please explain me in details of Limitation period to bank can file suit.
S S ravi (service) 02 July 2012
I have made equitable mortgage of my house property with nationalised bank in 1999. I request members to please explain me in details of Limitation period to bank can file suit.
NasrineMasudha (Individual advocate) 04 July 2012
There is no limitation in your case. When your property is describing as NPA assets then bank will take action against your property at any point of time.
csl (law officer) 05 July 2012
the limitation is 12 years from the date of last payment or acknoledgement of your debt either by way of revival letter / debit balance confirmation etc. as you have not stated when you have last acknowledged the debt either by way of part payment or in writing. we can not say whether or not claim against you is in force or time barred.
Member Strength 9,46,461 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
