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Limitation period for recovery of dues for cooperative bank


05-Dec-2023 (In Banking / Finance Law)
What is the limitation period for recovery of the outstanding dues for a cooperative bank ltd ? the property was transferred to a renowned loan reconstruction co by a nationalised bank in Mumbai with two attachments one of Home Loan and other of Personal loan ,after deliberate negotiations all the dues were cleared by us with loan reconstruction co , when the property was transferred to that loan reconstruction co sec 101 order issued by Asst. Registrar of MCS was served to that national bank for recovery. Would wish to know whether we need to pay the o/s of cooperative bank as on date ??
Answers (1)

Answer #1
806 votes
We need to go thru the order and other related communication of banks, mcs and cooperative bank to comment on the same.
You can negotiate and have written or verbal communication with the cooperative bank on the same.

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