Legal Question in Credit and Debt Law in India
A person start his business with a company and stop payment after three years, again start business with other company (the proprietor is the same of both companies) with promise that he will pay all previous dues amount with new transaction. Can the proprietor demand previous dues amount from debtor.
Asked on 1/25/13, 6:21 am
2 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
25.01.2013
Dear Sir / Madam,
(Khidirpur, Kolkata)
When both the creditor and the debtor involved in the contract are one and the same, even if the entity is different, the proprietor is entitled to receive the previous outstanding dues owed to him by the debtor in the proprietorship concern.
Regards,
FCA Prashant Chavan
Mumbai
(You can also mail me for any further on-line advice at [email protected])
Answered on 1/25/13, 6:40 am
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