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Need more time to pay off my loans how can I apply for it?
04-Apr-2023 (In Recovery Law)
Hi I need to pay my vendors approx 70 lacs. This situation has arisen due to loss in my business. I want to pay them but can't pay them right now. I need an time of 12 months to start paying them. The vendors are pressurizing me by all means. Can I take some legal help in resolving this
In such a case you need to pay back to the vendors. You cannot take any legal help in such a situation. Your vendors can file a suit to recover the amount and you can request the court the grant you some time to pay back the amount.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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