Borrower who neither paid debt nor replied to notice was to be estopped from challenging violation of Section 13(3A)

FEMA, BANKING amp; INSURANCE : Borrower was sanctioned working capital limit and term loan by Bank. In accordance with terms of loan, Subject Property was mortgaged by Borrower with Bank. Borrower failed to repay loan as per payment schedule as a result of which, loans were declared as a Non-Performing Asset.

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