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Subhojit Sarkar (Proprietor)     10 March 2016

Bank loan lap issue

Dear Friends,

Due to NPA account, my bank has forced the sarfaesi act. Though to gain time i have been to the DRT. The total amount due with fine and interest is around 230000/= and the principal is 130000/=. I am willingly to pay the principal for settlement or some more. Now, the issue is my lawyer says that even i pay the amount to settle the LAP, the bank will retain my property papers because I have defaulted in personal loan and Credir card from the same bank.

Is it possible?

I want to settle all the dues but it will take time and money. Can the bank hold the papers of my property? Do i have to pay all the dues(LAP + Personal  loan + CC) to get the papers. 

Please help me out .

Thank you.



 1 Replies

Dineshkumar (Advocate)     10 March 2016

Seek permission of hc to pay in installments

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