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Partnership disputes and bank CC Limit


19-Jun-2023 (In Arbitration Law)
We had availed a cc limit from Bank for a partnership firm by mortgage of a property (purchased in name of firm) and personal guarantees. Now partnership is under dispute and I have contacted home bank branch to stop further cc loan. They have not responded well. So I have e-mailed the details (copy of partnership & my notice to other partners is attached) to the bank. Does email is a valid document to communicate with bank? What else actions should I take to safeguard myself from loan.
Answers (1)

Answer #1
650 votes
Hi. From the narrow conspectus of facts stated by you I am assuming that a partnership dispute is already pending. In that event you can always point out to the court about the activities you are aggreived by. In case it is not pending you should send the bank a formal notice informing them about these developments.
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