Recovery of Loan from Pvt Ltd company against cheques
16-Sep-2023 (In Bankruptcy / Insolvency Law)
I had invested in a Pvt Ltd company for 5 lacs and against that I had 2 cheques as collateral. The first cheque of 2 lacs did expried on September and the second has validity for another 3 months. here when I am asking for money than company directors are responding that they will shut down the company to declare insolvency by december 2019. Please let me know what can be done as they are not ready to pay any money now.I do have a agreement also. I do not have money to fight with them. Whoever can help we can go for percentage once we recover. We are in total 3 people with 12 Lacs of money.
Hey nothing to worry about it eaisly we can recover the funds but for that we have proper method under IBC code and other Tribunals till the funds are not repaid the company can’t close but for that we need to go into proper mode of recover
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Bankruptcy / Insolvency lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."