Best Restructuring & Insolvency Lawyers in Samba
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India Restructuring & Insolvency Legal Questions answered by Lawyers
Browse our 1 legal question about Restructuring & Insolvency in India and read the lawyer answers, or ask your own questions for free.
- Can my bank start insolvency proceedings for 3 missed EMIs if my company is negotiating a restructure?
- I run a small manufacturing unit in India and missed three loan instalments due to delayed payments from customers. We are trying to negotiate a restructuring plan with lenders. What steps can the bank take now, and how can I protect the business while talks continue?
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Lawyer answer by Ishan Ganguly
Probable Actions by the Lender: Under Indian law, specifically the SARFAESI Act, 2002, banks have significant powers to recover dues without initial court intervention if the loan is secured. Issuance of Section 13(2) Notice: This is a demand notice giving...
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