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what is the worst that can happen if I lose DRT case
01-May-2023 (In Recovery Law)
We lost a DRT case, and court ordered to recover 15 lacs INR from sale of factory & land, and other movable-immovable assets of ours to recover. now we do not possess any property except tv fridge computer, washing machine etc. what could be the worst that can happen to me? or may i fall into some police case or likewise trouble apart from losing everything of my household items? shall i appeal again? loan was taken by my late husband, is my only son also be liable for it? he only possess a small car which is under bank loan and he is paying emi. Please help.
Since loan was taken by your late husband in his name on his demise your son would be liable only to extent property is inherited by him. DRT will fix reserved price for sale of factory and land. Bids would be invited and factory and land sold in auction to highest bidder. If there is a shortfall and no other assets in your husband name you wont be liable to meet the shortfall if you have not inherited any assets from your late husband. Please note that you wont lose your household items.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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