Advocate Yuvraj Girin Thakore

Questions Answered by Advocate Yuvraj Girin Thakore

Q: What to do if brother was running business in fathers name

Respected sir, my dad was influenced by my brother to run his business with the name of my dad as he was doing job and not allowed to do so. In good faith and without the knowledge of such crime my dad permited him and let him run the business on his name. However now he somehow make losses and whole creditors are asking money from my dad. I know it was his fault to allow him but now what should be the remedy? My brother is ready to accept all these things infront of any person or in court also. Is there any legal way that help us. My dad has sold our house and pay the debt ,still there are lot of money remaining to pay. What should be the perfect way to escape from this actual thing? Please do reply

Advocate Yuvraj Girin Thakore answered
First of all let me make one point very clear that you cannot escape from any of the liability incurred, what you need to do is to gradually reduce the liability by paying off the same. You can start negotiations with the creditors and make them believe that you can repay their debts in a span of reasonable time. Your brother accepting all the things in front of anyone will not make the difference, what the creditors wants is the money which is lying with you. You can find a middle way to tackle the situation by drawing consent terms with each creditor and by honouring to such consent terms. Needless to mention that if you are not in a position to meet your assurance, do not give any false assurance to any creditor as that will lead to breach of trust and creditor may take legal action against your father.

Q: Right of the school to ask for parents income tax return

Hi All, My daughter is studying in Sr.kg in one of the English Medium school in Ahmedabad, Gujarat. Recently, when I visited to collect the second term result, the class teacher handed me the Admission form for the 1st standard and ask me to submit my Income Tax return along with it within 15 days. For your reference, I am from General category and have not taken admission of my child under any government schemes etc. The Admission was taken as normal walk-in for Jr.kg. Even, on the current admission form (for 1st standard) under required documents, the income tax return is not mentioned. They are asking / advising verbally about it. What are my rights, if I do not want to disclose my IT return to my child school? Can they deny admission or what course of action should I take in this situation? 

Advocate Yuvraj Girin Thakore answered
It is very shocking to hear that the Schools are demanding the copy of Income Tax Returns from parents. Under no provision of law it is provided for asking the income tax returns from parents. You are under no Obligation to submit the copy of income tax returns. You can simply deny verbally and also for your records you can write a letter to the school indicating that you were verbally told to produce the copy of income tax returns and your are not providing the same as it is not required under any provisions of law. You can also write a statement indicating to the School that if admission of your child is denied on the basis of non-providing of Income TAx Returns, necessary legal consequence and actions shall follow. Further, if they still demand the income tax letter, a letter can be written to the Secretary of the Education Minister demanding action against the School.

Q: Demand notice U/S 8 IBC issued by operational creditor

Our company is an NPA and is under restructuring from the bank and negotiations are on to make a one time settlement.one of our op. creditors have issued a demand notice under sec 8 of IBC for insolvency resolution. Our case against bank is in DRT, till we work out restructuring.How should i deal with this demand notice?

Advocate Yuvraj Girin Thakore answered
Firstly, make sure that you reply to the Demand Notice issued under Section 8. Secondly, you need to see as to whether the debt which is due to the Operational Creditor is a legal debt or not, meaning thereby, do check up if the debt is more than 3 years old or not, if it is more than 3 years old, you can take the limitation defence and reject the claim of the operational creditor. Further, if you are genuinely trying for restructuring you can put that forward to your Operational Creditor in reply to the demand notice. If the Operational Creditor is sensible he would not go ahead with the filing of insolvency Petition as he would occur unnecessary expense. You should not admit the debt at any instance, because if debt is you may have a weak defence at the time of Petition Stage.