Legal doc weightage of issue of noc
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2012
NOC IS REQUIRED FORM THE BANK WHEN INTENED BUYER WILLING TO PURCHASE THE HYPOTHECATED Land & Building from the seller who has taken the term loan from the bank ,
Whose Noc is required from the branch or the head office?
Whose Noc is required from the branch or the head office?
Amol S Joglekar
(Expert)
07 August 2012
Many a bankers have a centralised function and accordingly the branch / concerned office / head office issues the NOC. This is basically covered under doctrine of indoor management. The intending purchaser need not know this. However, if he/she has a doubt of any of such NOC produced before him/her, it should be duly challenged.
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