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SANKARPRASAD (MNGR)     05 October 2016

Pronite expiry date

A gave Rs 10 Lac to B with 24% interest through Pronote. A didn'tshown this amount anywhere in his Tax returns.A is a bank employee . A wants to move to Court against B to recover the money. Pronote is on A Name. Pronote life expired on 03rd October 2016.

If B complains on A 's bank authorities about his Finance Business is there any problem to A.


Looking to hear from experts.



 1 Replies

Suri.Sravan Kumar (senior)     10 October 2016

I dont think A has advanced loan to B on his name. Since A is a Bank employee he knows how to deal with the transaction.

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