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collateral security given to pvt ltd co. where wife is MD but divorced


28-Oct-2023 (In Corporate Law)

I am undergoing divorce proceedings in Bangalore Family court from the last 1 year & 3 months. ..I had opened a pvt ltd. company in my wife's name in 2013 & after that the Divorce application was filed by my wife & proceedings are on... in the mean time she has removed me from the company by means of board resolution & termination me from as VP operations. Now that my mother has given her house for collateral worth 95 lakhs & since she has applied for Divorce & not living with me...she wants the house back... she has filled for Maintenance i pay 50K per month

Answers (1)

Answer #1
150 votes

What we can gather from your query is about the house. For that, it is required to know in whose name is the house registered if the house is in your mothers name you can file a suit against your wife and all the directors of the company who have terminated you.  Further, your wife may claim any amount as maintenance, but it is upto the court's discretion to decide whether you are capable to pay such an amount or not specially when your wife herself is an earning member. This is decided only after going through the income affidavits that you and your wife have to individually file in the court.

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.

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