I am running a Mobile Showroom and Delvelopment company Registered as a PVT.LTD. Having Term Loan and OD Based on the Thrird Party Colatorl with Bank. Due to heavy Loss i am unable to run my Business futher . I want to shoutdown the Business. I am going to handover my Mobile showroom to one buyer with Physical Stocks. Showroom is a rented Place. I am not paid my Bank Loans past 3 Months . If i close my business is there any way that bank to take over my stocks legally ?
I got od and Term Loan based on propert not against stocks. After closing the Business i am ready to repay the outstanding payments to the bank in regular intervals .