Intellectual Property Rights: Practice and Drafting by Adv Gautam Matani. Register Now!
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Paras Yadav   29 May 2023

Query regarding nclt

Mr. X is a director of two companies, namely 'A' and 'B'. Company 'A' provided a loan to company 'B'. However, in 2018, Mr. X sold his companies to new owners without any mention of the loans from company 'B' in the sale agreement. Now, in 2023, can Mr. X claim money from the new owners?


 3 Replies

Real Soul.... (LEGAL)     29 May 2023

That is an academic question.. however they are right in claiming the money from the company ; As when the new owners bought the company they bought the liabilities too, unless in the sale of agreement the transfer of previous liabilities are  categorically specified upon previous owner.

1 Like

kavksatyanarayana (subregistrar/supdt.(retired))     29 May 2023

No. He can't ask them.

1 Like

Paras Yadav   30 May 2023


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