hello there once again!
the loanee becomes NPA in year 2010 against property loan in a nationalise bank. in year 2012 the bank takes the possession of that property. Two days ago, loanee receives another notice from bank (not legal notice, it is just signed by branch manager) that if with in 15 days the amount is not deposited then they will be published in news paper with photo of loanee and his gurantor.
my question is:
1. once the bank has taken possession of the property then why should the branch manager write another letter to the loanee to deposit the amount (possession was taken approx 6 months ago)?
2. Can the bank publish name with photograph of loanee and his gurantor in news paper? if yes, under which banking rule of RBI ?
3. the loan has been recovered by taking the possession of the property, then why gurantor has been harressed?