Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

RAJ AGARWALA (proprietor)     18 July 2012

Women's marriage protection act

A woman who being a director in a pvt ltd company gives personal guarantee against loan from a PSU bank taken by the company.Can she buy a residential property in her name after default and claim protection under Women's marriage PRotection Act.



Learning

 2 Replies

Rajeev Kumar (Lawyer/Advocate)     19 July 2012

As per as the general tendency she must first clear the bank loan of which she is a guarantorg. It is her moral duty to pressurise the party who has taken loan in the case of default and claim gurantor is liable to pay loan amount with interest. Though she can purchase property in her name.

RAJ AGARWALA (proprietor)     19 July 2012

But wont bank will have the right to attach the property as she has given her personal guarantee


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register