Legal Question in Administrative Law in India

bank default payment

In the case of the pvt ltd company not able to pay back bank its loan and the director given his personal gurantee ,is bank entitled to attach his assests or can even attach his HUF or wife's assests though the personal gurantee is only of the director.


Asked on 1/02/09, 10:14 am

3 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: bank default payment

The assets of the director and his share in the HUF may be attached in terms of personal guarantee furnished to the Bank; however, a lot will depend upon several circumstances which may be within the knowledge of the Bank and which you may not have disclosed here.

Read more
Answered on 1/02/09, 5:52 pm
Homi Maratha N.N. Maratha & Co.-Advocates

Re: bank default payment

Already replied.

Read more
Answered on 1/03/09, 3:37 am
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

Re: bank default payment

yes, once a personal guarantee is given, the bank is empowered to do that

Read more
Answered on 1/03/09, 3:57 am


Related Questions & Answers

More Administrative Law questions and answers in India