Legal Question in Banking Law in India

A company want to raise overdraft facility against pledge of HUF deposits. Whether HUF deposits can be pledged for overdraft facility by other company.


Asked on 7/06/12, 9:57 pm

5 Answers from Attorneys
Vivek Mapara Vivek N. Mapara

Yes, it can be done, provided HUF signs pledging of its property

Feel free to contact

Vivek N Mapara

Attorney

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Answered on 7/07/12, 12:33 am
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

other company has no locus to raise overdraft facility of HUF deposits unless the company belongs to the karta and/or coparceners.

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Answered on 7/07/12, 1:24 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

i agree with Adv Gupta

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Answered on 7/08/12, 4:43 am
Sanjay Kalra Sanjay Kalra & Associates

Only if there is some connection between the company and HUF.

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Answered on 7/08/12, 11:35 pm
Global Legist Advocate & Legal Consultants

Hello,

For any further inquiry please contact us at [email protected]

With Regards

Global Legist

Advocates and Legal Consultants

+91 9873400403

[email protected]

www.globallegist.com

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Answered on 7/12/12, 2:36 pm


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