Legal Question in Credit and Debt Law in India
Can my debtor - a partner in a partnership Firm - escape liabilities u/s 138 of NIA if they change their type of firm into a Pvt. Limited Company, during the course of litigation?
What actions should be taken by me?
What if, the share holding pattern of the firm has changed in the new organisation? The accused partner has infused his capital into the Pvt Ltd company.
Asked on 8/24/10, 4:52 am
2 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
no, the liability cannot be changed on the basis of change of status of firm. the liability would remain.
Answered on 8/24/10, 5:41 am
Vishwa Arya
Arya & Co.
the partners still remain liable for the offence
Answered on 8/24/10, 11:07 am
Related Questions & Answers
-
How to check if i have an arrest warrant pending on my name Asked 8/23/10, 11:07 am in India Credit, Debt and Collections Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
