Non directors shareholders of a NPA private company

Did bank gives you revival package as you say due to covid and all

Not yet. Would the bank wait till we are declared NPA?

The next EMI is due end of this month, which we can't pay.

In general case a bank cannot declared NPA directly if you can't give EMI for guinue reason not in intention of faurd
then provide revival package for sustainability of company or say business and observe is it doing well in the futher package and able to pay the principal and EMI by making profit or not if the company failed in it then Bank declared a company as NPA under three categories of NPA and recovery the money or say liability as the agreement deed signed by the two parties

Thanks for the clarification.

Can you please tell us what happens after the status becomes NPA?

Would non directors also be responsible for the liability (bank loan)?

2 directors and 2 non directors have given personal assets as collateral for the bank loan.

In case the bank auctions the factory for less than the loan balance, would they come after the collateral in some order - directors first and then non directors?

When you're business started can you say
and when you unable to pay loan

Company incorporated in 2016. Factory setup (building and machinery) took about 2 years.

Production started (less than 20% capacity, due to lack of orders) in 2018.

Paid EMI regularly till Dec 2020.