tanvi (none) 30 January 2014
Dear All,
If I being a company have given loan to another company for purchase of a ship and if the company fails to repay my loan can I legally withhold the vessel in lieu of re payment until the loan has been repaid. Kindly provide judgments supporting the same if any. Thanks
Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 30 January 2014
It is depend upon your terms & conditions of agreement of loan.
tanvi (none) 31 January 2014
Sir,
The Agreement does not have any specific covenant that I can/ or cannot withhold the property until the amount has been paid. But my question is does any act prohibit such a withholding?
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