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PRAMOD KUMAR SHUKLA (NO)     20 September 2015

Trnsfer of proprietorship

Respected sir A bank had sanctioned the cash credit loan to a proprietorship firm . The propritor had died. There legal heir want to continue the business and takeover thr loan. Is it possible? What is the process?


 1 Replies

2BHelpfull (Other)     21 September 2015

in proprietorship firm after death of  The propritor legal heir r responsible for the debt or they may lose the security given for availing the loan.


it is like a loan taken on personal name.


has WILL been made???

if yes then it will according to WILL of the proprietor


u have to take letter of administration.

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