Hello ,I am a guarantor to a unlisted limited company. I have given the PG as a legal heir of my Late father ( who was the original promoter of the company) as well as in individual capacity. The company defaulted and OA has been passed by DRT in respect of recovery from company assets. OA does not talk any thing about the guarantor. I also have a HUF. I wanted to know if i can start earning and create future assets from my family ( wife and daughter) through my HUF income. My wife is also professional and can also avail home loan but not much. Can I buy a new home in jt name of my HUF and my wife. Will it be protected from my past issue of PG given to the bank ?? and if yes will it be 100 % protected.
I have inherited the issue, but have to secure my and my family's future. Kindly advice.
