Bank would auction property to recover its dues
if there is any shortfall sue you to recover balance amount
bank would find it difficult to recover balance amount if you have any other assets
Hello everyone i have take a loan of around 1.30 crore . and couldnot able to service my loan since covid and also not in position to service my loan in future.. already received 60 days notice from the bank and such period is also over.. today received the notice of possesstion of property.. i want to take guidence on further course of action that bank can do ? what happen if loan amount cannot be fully setlled against proceeds of property mortgage.. i am not having any other moveable and immoveable property.. what order can drt or court can pass... what are chances of my arrest..
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