NPA PROPERTY
10 months ago
Sir/Madam our property got NPA and bank without DM's permission and without sending notice sold to single bidder,there was no bidder except one person and bank has not called at the bidding/inform the borrower,is it legal to act like this by bank.
A.Dear Sir,
In the recent past the Bankers are misusing the various enactments which are in favour of bankers. You may approach Debt Recovery Tribunal or High Court and get such public auction set aside.
In the recent past the Bankers are misusing the various enactments which are in favour of bankers. You may approach Debt Recovery Tribunal or High Court and get such public auction set aside.
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A.Dear Client
For any NPA loan and the property mortgaged for the same the bank will publish in the newspaper to conduct the auction then only the auction starts. It is upto the people to come forward for auction and bank does not send notice to bidders individually. Now the bidding is also online so, there is no need to send notice to the bidders.
Bank is not supposed to call the borrower for bidding as the borrower is not allowed for the same.
For any NPA loan and the property mortgaged for the same the bank will publish in the newspaper to conduct the auction then only the auction starts. It is upto the people to come forward for auction and bank does not send notice to bidders individually. Now the bidding is also online so, there is no need to send notice to the bidders.
Bank is not supposed to call the borrower for bidding as the borrower is not allowed for the same.
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