Parent Company name ABC Ltd (Mumbai) is in India... their subsodary Company XYZ ltd is in Singapore,
Singapore Company has a subsidary in Dubai... MNO ltd
Dubai company has billed to X customer in Dubai...
the customer (Indian origin) defaulted and he has no money to pay.... he left Dubai and settled in India.
while contacting him he said he has no money to pay but there is a bunglow with open land ( in Kerala ) he can morgage to us.... till he repays the due.
have this is agreement of house which is belongs to name of his mother. He is going to obtain Power of Attorney in his name to sale/mortgage the same in few days
my query is can Parent company take this as morgage.
what are the legal formalities/ docs required to do this.
