cpc

inter corporate loan recovery


I have given a company an unsecured loan of Rs 20,00,000. They have defaulted on their repayment and have not paid any amount for the last 4 years (including interest). Every year I have new loan confirmations however they have not even deposited the TDS amount in the last 3 years on the interest payable. The company has very few assets- less than -Rs 10,00,000 and keeps asking for more time. I am in urgent need of this money and I want to know if there is any legal redressal possible? Please offer any advise?
 
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advocate

abousult you have the right to recovery money's ethir way of NCLT for insolvency in IBC code file way ethir you can file recovery suit in civil case more inform call me6361466619
 
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Thank you so much for your reply. To add, the company has been struck off in MCA 2 years ago. Would that affect my case?

 
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Lawyer in Hyderabad.wats app no.9989324294

Give your complaint in NCLT. Please read this article in this website. Everything About NCLT Proceedings
 

 
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Retired employee.

Understand your limitations and your urgency and volume of the amount involved, handover the recovery process to an expert advocate that knows company law.  Certainly, this is a better option for you than learning the process of recovery through online forums. and you can afford this much amount.

 
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Advocate

What is your status in advancing the loan - or was it just a case of deposit?

 
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Advocate

You can issue a legal demand notice demanding the repayment of loan amount along with the accrued interest. 

Let them give a reply and if they are not complying with the demand made then you can take legal action for recovery including filing a petition for winding up of the company before NCLT.

The winding up or liquidation of a company is the process by which a company's assets are collected and sold in order to pay its debts. Any monies remaining after all debts, expenses and costs have been paid off are distributed amongst the shareholders of the company.

The winding up 'petition' is the name given to the application sent to court. It is reviewed by the court, and if passed, sent to the insolvent company. It generally takes around 28 days in total for a winding up order to take effect.

Winding Up involves ending all business affairs and includes the closure of the company (including liquidation or dissolution), whilst Liquidation is specifically about selling off company assets in order to pay creditors and then closing the company.

The appointment of a liquidator, which means that the powers of the directors cease, usually takes between one and two weeks. If more than 90% of shareholders agree to short notice, liquidation can happen within seven days.

 

 
Reply   
 
Advocate

You can issue a legal demand notice demanding the repayment of loan amount along with the accrued interest. 

Let them give a reply and if they are not complying with the demand made then you can take legal action for recovery including filing a petition for winding up of the company before NCLT.

The winding up or liquidation of a company is the process by which a company's assets are collected and sold in order to pay its debts. Any monies remaining after all debts, expenses and costs have been paid off are distributed amongst the shareholders of the company.

The winding up 'petition' is the name given to the application sent to court. It is reviewed by the court, and if passed, sent to the insolvent company. It generally takes around 28 days in total for a winding up order to take effect.

Winding Up involves ending all business affairs and includes the closure of the company (including liquidation or dissolution), whilst Liquidation is specifically about selling off company assets in order to pay creditors and then closing the company.

The appointment of a liquidator, which means that the powers of the directors cease, usually takes between one and two weeks. If more than 90% of shareholders agree to short notice, liquidation can happen within seven days.

 

 
Reply   
 
Advocate

You can issue a legal demand notice demanding the repayment of loan amount along with the accrued interest. 

Let them give a reply and if they are not complying with the demand made then you can take legal action for recovery including filing a petition for winding up of the company before NCLT.

The winding up or liquidation of a company is the process by which a company's assets are collected and sold in order to pay its debts. Any monies remaining after all debts, expenses and costs have been paid off are distributed amongst the shareholders of the company.

The winding up 'petition' is the name given to the application sent to court. It is reviewed by the court, and if passed, sent to the insolvent company. It generally takes around 28 days in total for a winding up order to take effect.

Winding Up involves ending all business affairs and includes the closure of the company (including liquidation or dissolution), whilst Liquidation is specifically about selling off company assets in order to pay creditors and then closing the company.

The appointment of a liquidator, which means that the powers of the directors cease, usually takes between one and two weeks. If more than 90% of shareholders agree to short notice, liquidation can happen within seven days.

 

 
Reply   
 
Advocate

You can issue a legal demand notice demanding the repayment of loan amount along with the accrued interest. 

Let them give a reply and if they are not complying with the demand made then you can take legal action for recovery including filing a petition for winding up of the company before NCLT.

The winding up or liquidation of a company is the process by which a company's assets are collected and sold in order to pay its debts. Any monies remaining after all debts, expenses and costs have been paid off are distributed amongst the shareholders of the company.

The winding up 'petition' is the name given to the application sent to court. It is reviewed by the court, and if passed, sent to the insolvent company. It generally takes around 28 days in total for a winding up order to take effect.

Winding Up involves ending all business affairs and includes the closure of the company (including liquidation or dissolution), whilst Liquidation is specifically about selling off company assets in order to pay creditors and then closing the company.

The appointment of a liquidator, which means that the powers of the directors cease, usually takes between one and two weeks. If more than 90% of shareholders agree to short notice, liquidation can happen within seven days.

 

 
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