Q-A claIm of Rs 45 lacs has been settled by ECGC in favour of a bank against default of rs 60 lacs.

Q-A claIm of Rs 45 lacs has been settled by ECGC in favour of a bank against default of rs 60 lacs. Subsequently the bank realises rs 20 lacs collateral available to it. What is the amount paid by ECGC ? a- 30 lacs b- 45 lacs c- 20 lacs d- none of these

 

If collateral is 20 it means loan am is 80 so 80-20= 60 is unsecured portion Claim is 75% of 60

 

@Priyanka Reddy Kolli Ecgc paid 45 lakh i.e-45/60 * 100 = 75 %Amt subsequently realised = 20 lakhNew default amt- 60-20 = 40 lakhecgc will only pay 75 %40/100 * 75 = 30 lakh

 

Collateral is additional security. Amt. Realised after settlement have to remitted back to ECGC on protests basis