If firmA received a loan from firmB, then, is it possible ?
3 years ago
Then, is it possible for firmA to give that 100% loan amount to firmC as loan ?
A.Here, the liability is there on Firm A of Both the firms - that is Firm B & C.. E.g. You are Firm A & you get Rs.10 lakhs from firm B & say suppose you give entire Rs.10 lakhs to firm C, & suppose the Firm C DEFAULTS you in returning the payment U will have to run to courts & legal system or The Person C dies then remember you have lost Rs.10 lakhs in Business from C + you have to RETURN Rs.10 lakhs to A & so TOTAL LOSS is Rs.20 lakhs.... (So a Financial lawyers decision in each & every Agreement is Must before you proceed with any type of Loan giving to others) There are other ways to over-counter these drawbacks-
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ADV. ANISH PALKAR (High Court)
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ADV. ANISH PALKAR (High Court)
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A.Without necessary finance licence they cannot do such financial business
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