Legal Question in Banking Law in India

Laibelty

Thank you for advise, any effect of my Insolveny on my 19 years old son and any laibelty on my son.


Asked on 10/07/08, 3:16 am

3 Answers from Attorneys
J. Radhakrishnan independent Practice

Re: Laibelty

You mean liability. Nothing on your son if he has no joint Hindu family immovable property of some worth with you. If there is one his share also will vest with the official Receiver on the basis of pious obligation doctrine.

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Answered on 10/09/08, 4:39 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Laibelty

No

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Answered on 10/09/08, 8:37 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Laibelty

No, your son is not liable for anything; Legally speaking, your insolvency petition is not likely to affect him in any manner. however, if you have transferred any property in the name of your son during this period, that transfer may be challenged and the court may cancel the same.

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Answered on 10/07/08, 6:15 am


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