National Housing Bank Act : Power to call for repayment before agreed period. Indian Bare Acts :

National Housing Bank Act,1987

Act No : 53

Section : Power to call for repayment before agreed period.

20. Power to call for repayment before agreed period. Notwithstanding anything to the contrary contained in any agreement, the National Housing Bank may, by notice in writing, require any borrowing housing finance institution to discharge forthwith in full its liabilities to the National Housing Bank-- (a) if it appears to the Board that false or misleading information in any material particular was given in the application for the loan or advance; or 433 (b) if the borrowing housing finance institution has failed to comply with any of the terms of the agreement with the National Housing Bank in the matter of the loan or advance; or (c) if there is a reasonable apprehension that the borrowing housing finance institution is unable to pay its debts or that proceedings for liquidation may be commenced in respect thereof; or (d) if for any reason, it is necessary so to do to protect the interests of the National Housing Bank.