Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Venkatitsme (Technical Spel.)     15 February 2015

Father debits to son.. is it possible???

If the father has borrowed money from many people and in  worst case, He could not clear the debits. (Lets assume he has given promissory  note & cheque  to many people) . In that one person has submitted the cheque and it got bounced & he got a legal notice which says “to clear the amount in 30day”.

And he is in very bad state  where he don't have money to consultant a lawyer also,  having very hard time to survey his life?? And he had a son & he is working for very less salary. And manage the family, Where he is not even having Rs.100 by end of the month.

 

 So, will his son will be responsible to clear all the debits? Is there any possibility to get an legal notice to his son?



Learning

 3 Replies

Kumar Doab (FIN)     15 February 2015

It is believed that you are Hindu.After amendment to Hindu Succession Act, son is not under pious liability to pay debt of father.

The debt can be recovered from estate of borrower.

The lenders can proceed against the borrower on the basis of promissory note and  cheque.

Venkatitsme (Technical Spel.)     17 February 2015

Thank you the response. Yes I am Hindu. 

In case if the borrower doesn't any assets, What action will be taken?

Being a son, How the son can help his father?

Kumar Doab (FIN)     17 February 2015

Son can pay the debt of father, voluntarily.

Son can take the father to a Lawyer to defend from legal consequences.

 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register