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Bombay High Court Restricts Canara Bank from Taking Possession of Worli Bungalow - (09 Oct 2019)

BANKING

Bombay High Court has restricted Canara Bank from taking over a bungalow in Worli locality of Mumbai from one of its borrowers and guarantor of a loan under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002. The guarantor had approached the Court with a plea to quash the action initiated by the bank stating that the loan was availed by the entity based out of Hong Kong through the bank’s branch there and therefore the agreements are govern

Tags : BOMBAY HIGH COURT CANARA BANK

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