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Can bank put lien on property attached in dispute due to non payment
03-Jul-2023 (In Banking / Finance Law)
I had taken a personal loan from a Co-operative bank in Mumbai, which I had defaulted on, bank approached the Arbitratrator and got an order to attach my personal saving account held in other bank, however bank instead of attaching my bank account they tried to put a lien on my residential property, which was not a apart of the loan contract nor in the arbitration award, I want to know weather such act of bank to attempting to place a lien on my residential property is legal? Plz advise
On the basis of limited information you have provided, accordingly Bank cannot mark lien on your residential property, wherein you also have an arbitration award where there is no mention of such lien
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Adv. Bankim Mehta
Mumbai | 200+ Answers
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