Legal Question in Credit and Debt Law in India
Our Small scale industry became sick & was acutioned by the back in 1998, the amount adjusted against our loan, there were still some dues left, now in 2009 the bank wants us to pay them after 10 years.
Now I have a job in IT & have brought a house from my own savings, can the bank now take over my house i fail to pay them?
Asked on 9/01/09, 4:21 am
1 Answer from Attorneys
After selling the sick industry, bank cannot charge you from your personal liabilities. but if it was a properitor firm and your case was not consider under sick unit then they can.
Answered on 9/01/09, 2:10 pm
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