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Musya8 [376]
4 years ago
6

WHAT IS MISUSE OF ASSETS?

Law
1 answer:
oee [108]4 years ago
3 0

Answer:

Misappropriation of assets involves the actual theft of an entity's assets. This can be accomplished by common theft or the following. Causing an organization to pay for goods and services not actually received (for example fictitious vendors or employees). Using an organization's assets for personal use.

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So, to recover the loan, bank has the right to sell the attached property which is attached as collateral security even if it is contaminated land. The sole aim of the bank is to recover the loan in case of repayment in which loanee is referred as defaulter.

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