Dear Sir,
A company was under loss due to scarcity of raw meterial and Ban by govt of Karnataka on Iron ore procurement. A suit for the recovery of u\nsecured loans by Former Director & partner of the same company filed before addtional seniour civil judge court based on the statement of Assets and liability , against the same company and its new current director. Loss Occured during the tennure of previous director who filed this suit. He has brought unsecuried loans from his family members. Whether this suit is maintainable under regular civil court or National company Law tribunal. Whether civil court has jurisdiction to try this matter where shares of the comany were devalued asper asset and Liability of the company for past two years. what is the autharitative rulings by supreme court or other high courts on this issue.
