Legal Question in Banking Law in India

Partnership and banking

A partnership firm consist of 3

major parttners. Two minors have

been admitted to the benefit of

partnership. Our firm has given a

loan to the above partnership firm

for which documents signed by the

major partners have been

obtained. Their personal guarantee

has also been obtained. Now one

of the minor has attatined majority

and he elects to continue as a

partners. Should we get loan

documents signed by the said

partner also who has attained

majority.


Asked on 6/07/09, 12:24 am

4 Answers from Attorneys
RAMAN KUMAR BHARDWAJ R.K. BHARDWAJ & ASSOCIATES

Re: Partnership and banking

already replied

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Answered on 6/07/09, 1:19 am
Pranav Desai PD Legal & Associates

Re: Partnership and banking

answered

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Answered on 6/08/09, 8:10 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Partnership and banking

You need not to change the already executed loan documents.

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Answered on 6/07/09, 6:51 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Partnership and banking

already replied

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Answered on 6/07/09, 9:28 am


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