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Recovery of Loan from foreigner under which law?
07-Jul-2023 (In Banking / Finance Law)
MY CLIENT IS A GERMAN NATIONAL AND HE GAVE FRIENDLY LOAN TO AN INDIAN COMPANY. IS THIS LOAN VALID ? IS THIS LEGALLY RECOVERABLE UNDER INDIAN LAWS ? HOW CAN THIS LOAN BE RECOVERED UNDER INDIAN LAWS OR ANY OTHER WAY ?
Hello Client,
I have read your question ,well its is possible to recover the friendly loan provided by a German national to an Indian company.yes off course it will be a valid loan but certain conditions will apply to that validity.that i am able to to confirm after going through the full documentation as well as amount of loan.
Thanks
I have read your question ,well its is possible to recover the friendly loan provided by a German national to an Indian company.yes off course it will be a valid loan but certain conditions will apply to that validity.that i am able to to confirm after going through the full documentation as well as amount of loan.
Thanks
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Adv. Vishwanath Pratap Singh
Delhi | 500+ Answers
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This is a complex query involving FEMA, RBI regulations and civil commercial laws of India. The relationship between the parties is an important factor. You also need to check if all RBI related compliances have been carried out in this regard. Unless the loan has been validly given under Indian law, recovery is questionable which is not to rule out the recovery in any other jurisdiction. Please share all the details and the documents for proper advice and strategy.
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Adv. Joydeep Nath
Delhi | 100+ Answers
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