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

Jeevesh Mehta (Advocate )     17 March 2011

Recovery by creditors

Hi,

"A" Limited company is a subsidiary of "B" Limited Company. 

A Co. purchased the goods from suppliers for the purpose of manufacture of their own product.

A co did not pay the full amount to the suppliers and money is due to be paid by A co.

All the directors and management of A co is same as B Co (i.e the Holding Co)

In case A co is no longer into the business and has stopped the delaing in the market, can the suppliers move against the A co and its Holding company for the recovery of money .

 

What are the modes of recovery available with the suppliers which they can resort to .

Regards



Learning

 0 Replies


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register