Question ID :
40961
Co-op.bank exposure limit
A Co-op. Bank's exposure limit to a single borrower is say Rs. 1.5 crs. It has already advanced Rs. 1.5 crs to a borrower on mortgage of immovable property of Rs. 5 crs.Again it want to advance Rs. 1.5 crs. to another borrower on the same morgaged property. Whether advance on the same mortgaged property to different borrowers becomes an advance to a single borrower?
Posted by
KOMAL APURV VORA
on
Feb 04, 2021
Filed Under
CORPORATE & OTHER LAWS
Since the mortgager owner has already taken a loan of Rs 1.5 Crore. Then how the same property is mortgaged by another person and take loan??
Say in worst case scenario even the loan is given by the banker then the exposure limit to single customer is breached. Hence it cannot be given.
Posted by
CA. JHA SHANKAR KUMAR on
May 30, 2021