Can Bank Collects Interest After Loan Account Becamce NPA

File writ petition in the high court of Andhra pradesh under SARFESI act for decency in services speak to me

Dear client As per your submission it reveals that this is a matter of SARFESI Act However. Interest can be claim as RBI guidelines or as per terms and conditions which were signed while borrowing loan Moreover If you get legal notice thorough Bank Than please send reply through expert lawyer.

It seems that you have taken a loan under the CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) scheme for 11 laptops and working capital of 800,000 INR. However, due to financial difficulties, your loan became a non-performing asset (NPA) in June 2018, and the bank classified it as NPS (Non-Performing Stock). You mentioned that at the time of NPA, there was a balance of 5.6 lakh INR in your current account, which you did not use. The bank later recovered around 8 lakh INR by selling assets in June 2019, which fully covered the term loan. However, you still owe approximately 5 lakh INR. If I understand correctly, you are stating that the bank deducted 5.60 lakh INR from your current account without your knowledge or authorization, and the interest is still being accumulated in the account. It appears that you are planning to file a case in court claiming that the bank is at fault for not claiming the second installment from CGTMSE, leading to a deficiency in their service due to the delay in crediting the interest to your working capital current account. In a situation like this, it would be advisable to consult with a legal professional who can assess your specific case and provide accurate guidance based on the relevant laws and regulations. They will be able to review your loan agreement, account statements, and any other relevant documents to determine the best course of action.