Negotiable Instruments: Exhaustive Coverage by Adv Roma Bhagat. Register Now!
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Parth Jaiswal   28 May 2023

Cash credit limit

My grand mother was the proprietor of the firm started by my grand father now she has passed and given ownership to my father and his brother. There is a cc loan against my father inherited property so are liable to pay full loan or can we deny to pay it? Please guide what should we do 

Thank you 


 1 Replies

Dr J C Vashista (Advocate)     28 May 2023

The CC loan is stated to be against the security of the property which has been devolved to successors, accordingly all LRs of your grandmother shall be liable for the CC / outstanding amount of loan. 

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