Suit filing in drt
amit kumar
(Querist) 28 November 2014
This query is : Resolved
dear sir,
My issue is related to a borrower.He took advance from the bank in the capacity of partnership firm. During continuance of Loan firm was converted to pvt.ltd company. he defaulted and now the loan is NPA. The borrower informed the creditor regarding such conversion but Bank after such conversion did not executed any documents to make company liable. Now Bank wants to initiate proceeding in DRT. issue is against whom bank should file suit..Partnership firm or pvt ltd company.and what complication can arise in future after filing such suit.
ajay sethi
(Expert) 28 November 2014
bank can afford legal fees
amit kumar
(Querist) 28 November 2014
sorry ...what was that
Devajyoti Barman
(Expert) 28 November 2014
It means take professional service of an advocate.
amit kumar
(Querist) 28 November 2014
thanks experts
R.K Nanda
(Expert) 29 November 2014
consult local lawyer.
