Calcutta High Court: A CC/OD Account Cannot Be Classified as NPA Without Actual 90-Day Overdue or “Out of Order” Status — SARFAESI Notice Quashed
The Calcutta High Court quashes a bank’s SARFAESI Section 13(2) notice, holding that a Cash Credit/Overdraft account cannot be classified as a Non-Performing Asset unless it is actually overdue for more than 90 days or genuinely “out of order.”
