Agriculture Land
4 years ago
My account is NPA with co-operative Bank in Maharashtra, I have main security and collateral security, the bank has taken action under SARFAESI act and seized my property now my question is whether Bank can sale Agriculture Land ??
A.Dear Sir,
There is no restrictions to sell the agricultural land if it is mortgaged with the Bank however you can resist the same through the help experienced advocate.
Thanks.
There is no restrictions to sell the agricultural land if it is mortgaged with the Bank however you can resist the same through the help experienced advocate.
Thanks.
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Sandeep Pingale
Responded 4 years ago
A.Yes,
Bank can do auction of seized property and sale amount from that auction shall be adjusted in your loan account.
Bank can do auction of seized property and sale amount from that auction shall be adjusted in your loan account.
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Jagannath S Pawar
Responded 4 years ago
A.Plz contest the case in SARFAESI well or settle the matter. Plz contact through Vidhikarya for further help n guidance
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