Loan account turned NPA
2 years ago
A demand notice under 13(2) was issued for our loan account in February,2019. We cleared all the due and regularised the account. However, it is about to turn NPA again. I wanted to know whether there will be another demand notice giving us 60 days or will there be possession straightaway.
Ankur Goel @ Complete Law Shield
Responded 2 years ago
A.same cycle like first time.
no possession straightaway.
no possession straightaway.
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A.Hi,
The borrower's account is listed as NPA if payment is not made and the accounts are not regularised within 90 days of the date of default, according to RBI law. But, in this case, if the loan is already settled and the account is regularized then your account should not be classified as NPA. If the bank is classifying your account as NPA in an unfair manner you should send a legal notice.
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The borrower's account is listed as NPA if payment is not made and the accounts are not regularised within 90 days of the date of default, according to RBI law. But, in this case, if the loan is already settled and the account is regularized then your account should not be classified as NPA. If the bank is classifying your account as NPA in an unfair manner you should send a legal notice.
If you find this answer helpful please rate my answer. Thank you.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
According to RBI law, if payment is not made and the accounts are not regularised within 90 days of the date of default, the borrower's account is classified as NPA. However, if the loan has already been paid off and the account is in good standing, the account should not be listed as non-performing. If your bank is incorrectly classifying your account as NPA, you should give a legal notice.
If you find this answer helpful please rate my answer. Thank you.
According to RBI law, if payment is not made and the accounts are not regularised within 90 days of the date of default, the borrower's account is classified as NPA. However, if the loan has already been paid off and the account is in good standing, the account should not be listed as non-performing. If your bank is incorrectly classifying your account as NPA, you should give a legal notice.
If you find this answer helpful please rate my answer. Thank you.
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A.Dear Sir,
It is bankers of option.
It is bankers of option.
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Pardeep Kumar Dhiman Dhiman
Responded 2 years ago
A.जब आपने खाते को नियमित कर दिया गया है।फिर बैंक उसको दोबारे से NPA क्यों कर रहा है।यदि कर रहा हैं तो गलत है।
आपको फिर से बैंक notice देगा।तुरंत कब्जा नही कर सकता।आपको सुनवाई का पुर्ण अवसर मिलेगा।
आपको फिर से बैंक notice देगा।तुरंत कब्जा नही कर सकता।आपको सुनवाई का पुर्ण अवसर मिलेगा।
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