if a pvt company has provided an collateral security of 2 crores and has been granted a loan of 5crores in a span of 3 yearsby SBI and is now unable to repay the secured loan what will happen.the company has been declared npa by the bank and has been asked to to repay the total loan in 60 days. but the company is not in the position to repay any debts.the directors and the gurantors have been sent notices to repay the loan in total.
will the company be taken over by the bank
will the directors and gurantors be sent behind bars.
will the personal assets apart from the collateral security of the directors and gurantors will be taken over by the bank
please guide and provide a way out
