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DRT case lost - what can happen to me
1 year ago
Dear Sir
I lost a DRT case and the court has ordered to recover 64 lac INR from sale of collateral, and other movable immovable assets of ours to recover. I had taken the loan under CGTSME
My business (Stock as Collateral) was shut down in 2015 due to losses and currently I am working in a private company. Apart from household articles at my home I dont own any land or property. My house is rented one. My wife has around 8 lac FD in bank which she got as a gift from her parents. My wife is not a party in the DRT case. What option do I have and what is the worst which can happen to me or my wife
Please advise.
A.Dear Sir,
The FD in the name of your wife is safe. However, your properties will be attached and recovery proceedings will be initiated.
The FD in the name of your wife is safe. However, your properties will be attached and recovery proceedings will be initiated.
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