Huf property

kaushal kumar ojha (Querist) 12 January 2012 This query is : Resolved
Please guide whether property belongs to huf can be mortgaged for the credit limits allowed to Pvt Ltd Company:-
1. where karta is Director.
2. Where Karta is not director and Guarantor.

Thanks in advance

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R.Ramachandran (Expert) 12 January 2012
Cannot be done if it is not for the benefit of the HUF.

DEFENSE ADVOCATE.-firmaction@g (Expert) 12 January 2012
thanks in advance.

Deepak Nair (Expert) 12 January 2012
Agree with Expert Mr.Ramachandran

Raj Kumar Makkad (Expert) 12 January 2012
Joint Hindu Family property is meant only for the welfare of the join Hindu family and not for the individual Karta or his company so it cannot be used for guarantee.