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Can bank attach assets to recover outstanding amount


31-Mar-2023 (In Recovery Law)

My brother in law has outstanding balance on credit card for around 3 lakhs, which he is unable to pay as his business is down and his income is 0 per month. He does have few basic assets, like TV, Furniture, Car (Alto) etc. and no immovable property. Can bank attach his assets to recover the amount. Also can bank attach his parents assets (flats in Kolkata in father name who are staying there) in any scenario.

Answers (1)

Answer #1
730 votes
Yes the bank can attach the assets like TV, furniture, car etc and the propreties which are in the name of your brother in law but can not attach the property in the name of the parents in any manner.

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