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Does pending case status change if firm is transferred?
01-May-2023 (In Recovery Law)
i have a proprietorship firm. I have filed recovery cases from debtors. Due to my ill health, i want to transfer my proprietorship firm to my wife. Will it change the status of cases if i transfer the firm to my wife or convert into a private limited?
You may execute power of attorney in the favour of you wife till the cases are ongoing.
In the Power Of Attorney, you can transfer rights to her so as to not to create conflict of interest.
However, you will have to ensure all the rights are properly transferred in her name, so as to enable her to execute all the responsibilities in your absence including court appearances in specific.
In the Power Of Attorney, you can transfer rights to her so as to not to create conflict of interest.
However, you will have to ensure all the rights are properly transferred in her name, so as to enable her to execute all the responsibilities in your absence including court appearances in specific.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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