Overdraft facility is pending for payment partners not responding
22-Feb-2023 (In Recovery Law)
Dear Sir, My husband had got a company formed with 2 other partners by keeping our house documents as surety. Now that the company did not do well we had to close it and the overdraft facility is pending for payment. The other 2 directors are not responding and our house will be auctioned for the same. Now that my husband passed away a month back all the responsibility is on me. Please help me in solving this problem.
Please note that my legal advice is not final and without looking at the relevant documents and without obtaining further information from you, I cannot give a complete solution. For further clarifications, please feel free to contact me.
Unless proper legal intimation made to you the bankers can not auction your property. If at all if you had received legal notification for auctioning then you need to approach lawyer for interim stay.
I am not sure about value of the overdraft amount and reason behind house document pledged as surety. Need to understand problem clearly.
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