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What is Notice of Loan Default and Liability about?

This notice is from UCO Bank informing Mrutyunjay Sahoo and the guarantor Upendra Behera that Mrutyunjay has defaulted on a loan of Rs. 6,20,000. Mrutyunjay is being given 60 days to repay the outstanding amount of Rs. 6,31,758.11, failing which the bank will exercise its legal rights under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The notice provides details of the loan, security given in the form of hypothecation of stocks and mortgage of agr

Author

Sudhanshu Samal

Language

EN