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Aakash   06 December 2023

Huf bankruptcy


i am a part of a HUF Propreitory firm which will be going under bankruptcy.

i want to know what are its effects on the members of the HUF as in CIBIL, assets of other members of HUF, will the charge be passed to members of HUF too or just the Karta .


 1 Replies

T. Kalaiselvan, Advocate (Advocate)     06 December 2023

In case a member of a company becomes bankrupt, the official receiver shall produce documentary evidence of his appointment from a competent Court and proceed with the further procedures as per law.

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