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withdrawal/revocation of No dues certificate by bank or FI


26-Feb-2024 (In Recovery Law)
can a bank or financial Institution revoke or cancelation its NOC given to customer on repayment of whole loan amount with interest on time.
Answers (1)

Answer #1
880 votes
No once u have repayed ur loan amount well in time and NOC has been given by the bank /Financial institution and the property in possession has been released by a release deed then in no case the bank can cancel the NOC .It is in violation of banking laws and against the principles of natural Justice.U can challenge it in DRT or High court. Contact me .
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