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Business loan settlement issue


22-Jan-2023 (In Recovery Law)
My brother took few unsecured loans for business and the company is now not in situation to pay the emi and would like to settle it with the banks. My mother is also a co applicant and director in company and she is also joint owner of a property with my father. Can that property be attached. Loan amount is around 60 lacs and he can’t pay more than 20-25 lacs now for settlement. Can this issue be resolved and if any lawyer who specialises in these matters can help.
Answers (1)

Answer #1
946 votes
You need to hire an expert advocate in this regard ! Settlement can be done via considering the facts but don’t offer them anything directly, n get things in writing ! U need to revert to every notice sent by them via your advocate! Kindly n in touch with us to understand the legalities
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