Huf property

This query is : Resolved 
 

(Querist)
12 January 2012

Please guide whether property belongs to huf can be mortgaged for the credit limits allowed to Pvt Ltd Company:-
1. where karta is Director.
2. Where Karta is not director and Guarantor.

Thanks in advance


R.Ramachandran (Expert)
12 January 2012

Cannot be done if it is not for the benefit of the HUF.

DEFENSE ADVOCATE.-firmaction@g (Expert)
12 January 2012

thanks in advance.

Deepak Nair (Expert)
12 January 2012

Agree with Expert Mr.Ramachandran

raj kumar makkad (Expert)
12 January 2012

Joint Hindu Family property is meant only for the welfare of the join Hindu family and not for the individual Karta or his company so it cannot be used for guarantee.

prabhakar singh (Expert)
13 January 2012

Rightly opined by experts.

V R SHROFF (Expert)
13 January 2012

I too, Agree with Expert Mr.Ramachandran

Shailesh Kr. Shah (Expert)
13 January 2012

So, only for the benefit of huf, property can be mortgage.



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