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Limitation for filling OA for recovery of amount
20-Oct-2023 (In Banking / Finance Law)
SA pending since 2012. About 60% of the amount of notice amount paid. Loan taken in 2006, what the limitation for bank to file OA for recovery of balance amount
Dear
You have not mention that which type of loan it is . Is it a mortgage loan or personal loan. If it is a mortgage loan then limitations is 12 years and if it is personal loan then three years from the default and bank will send one demand notice before going for case
You have not mention that which type of loan it is . Is it a mortgage loan or personal loan. If it is a mortgage loan then limitations is 12 years and if it is personal loan then three years from the default and bank will send one demand notice before going for case
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23+
Adv. Ganesh Kumar Sharma
Chandigarh | 100+ Answers
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