BANK CC LIMIT SECURITY

A HAS TAKEN CC LIMIT FROM BANK OF RS. 15 LACS.


MR. B HAS GIVEN HIS ASSET AS MORTGAGE FOR MR. A SECURITY FOR CC LIMIT.


NOW MR. A DON'T HAVE MONEY FOR REPAY THE CC LIMIT BORROWED OF RS. 15 LACS.



MY QUESTION IS IF THE BANK AUCTION THE ASSET OF MR B FOR RECOVERY OF THE AMOUNT OF RS. 15 LACS AND GETS RS. 24 LACS FROM THAT ASSETS THAN WHO WILL RECIEVE THE EXCESS MONEY OF RS. 9 LACS ????




I DON'T HAVE SUCH TYPE OF KNOWLEDGE REGARDING THE BANK PROCESSES THAN THERE MAY BE ANY MISTAKE IN MY QUESTION..



THANK YOU!!!!