Legal Question in Banking Law in India

i have given my personal gurantee in a company in which i am a director also.

loan has gone bad in 2011. bank has co lateral securities and gurantees . they have started recovery action in DTR courts. i got married in 2008 . now i have made a HUF and got a pan card also for HUF . can bank attach my HUF also for its recovery in any circumstances. i am karta in HUF


Asked on 2/05/13, 9:08 am

4 Answers from Attorneys
Sanjay Kalra Sanjay Kalra & Associates

The Bank cannot attach your HUF account...........Please check Sanjay Kalra and Associates on the internet to know more about your query and the legal services we are rendering for our clients from all over the World.

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Answered on 2/05/13, 10:20 pm
Jayesh Desai Jayesh Desai

HUF cannot be attached, but if Bank takes proper steps they can ask for attaching your share on the HUF.

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Answered on 2/06/13, 2:04 am
J. Radhakrishnan independent Practice

your creation of HUF won't help. whatever properties you own whether you call as personal or to your HUF are liable to be attached. Make the company to settle its dues with the bank and purchase peace.

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Answered on 2/06/13, 8:54 pm


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