Wants to settle the amount of loan taken by my late father
18-Nov-2023 (In Banking / Finance Law)
-Father took loan 1100000(2010), security by grandmother.(2.7acre land) -Grandmother expired(2010). -In 2013 1753000 paid to bank. and 1100000 was taken on the same day(no sign of grandmother at that time as security sign). -Father expired(2017). -Total amount till 2017 with interest was 1800000. -note: Manager said to keep letter to regional manager for 1300000(OTS). Q1 -As both were died, and some amount was paid in 2013,will bank come for settlement upto 7 to 8 lakhs when we proceed through court. Q2-Will they go for auction on land? (land is having share of 5 people) market govt value 12lakhs/acre. NOTE (no others sign in bank except father and grandmother)
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