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npa account to takeover


What are the procedure & precaution to takeover NPA account from bank
 
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Retired employee.

There is no clarity in the query.

No financial institution takes NPA from other institution, as the first precaution is CIBIL rating.

If you wanted to acquire that unit that was declared as NPA, Bank can not give directly to you and they have to follow the laid down procedure and that document is more than enough to establilsh that the unit was acquired legally.

It is always proper to be in touch with a competent advocate, when you take a risk of taking over NPA with your hard earned investment.

 
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