Father ran proprietor Company on my name and Fled away with Debt
03-Aug-2023 (In Banking / Finance Law)
He use to run the proprietor company while I use to study in different state. The company has 20Lakh debt (including GST) and recently during finishing my engineering I got to know that he has fled away and all this things he was doing on my name. I have just finished my studies and I'm really scared about this. I really don't know what to do. Please help. In desperate need of advice.
If you are in contact with your father or know his whereabouts, then try to contact him and ask him to clear all mess. Since, you were studying during the period with your zero involvement about any of his business then we can represent it accordingly. All the liability which he have incurred will be paid off by selling his properties. Still need to verify every details about his transaction patterns, then only will be able to advise in right direction.
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