Father took loan keeping brother as coapplicant
11 months ago
Father took loan from several banks total amount 2+ crore. Few are personal, business loan. He made brother sign a partnership agreement to get business loan. Also applied in 2 banks keeping him co-applicant. 1 loan worth 10 lakhs bro agreed but he denied for second loan of 15 lac. However both loan were processed by agent.
Father had invested money in chit fund and that company shut down now he cannot pay emi. He used his own acquired houses to get money from personal lenders on interest basis on assuming company will restart and he will get his money back. However nothing happened.
Brother (35) was staying in 1 house which he vacated after getting possession of house he booked in another city. Father has ran away as recovery agents were harrassing police was not helping.
Now brother is saying as we both are father's children you clear 10 lac on my name. I am married and was never dependent on father nor he gave any dowry to my husband. Am I still liable to pay his debt hindu law.
Sub-Section(4) of Sec,6 of Hindu Succession (Amendment) Act, 2005 defines Rights & Liabilities of a son member of a Hindu familiy. It says that no court shall recognize any right to proceed against a son, grandson, or great grandson for the recovery of any debt due from his father, grand father or great grand father. Apex Court has upheld gender equality after the amendment of Hindu Succession Act, 2005. Accordingly, a daughter even married has equal right and privileges that enjoys a son of Hindu family.
As per the infromation you have given it is advisabel to you to reach out to an advocate for first hand information.
Hindu Succession (Amendment) Act, 2005- Rights & Liabilities of a daughter member
Section 6(4) provides that no court shall recognize any right to proceed against a son, grandson, or great grandson for the recovery of any debt due from his father, grand father or great grand father.
Pious Obligation gone
Section 6(4) provides that no court shall recognize any right to proceed against a son, grandson, or great grandson for the recovery of any debt due from his father, grand father or great grand father. Explanation to Section 6(5) provides that partition for the purposes of this section means any partition made by execution of a deed of partition duly registered under the Registration Act, 1908 (16 of 1908) or partition effected by a decree of a court.
Multiple unsecured loan defaults
Unfreeze
For bank loan
Bankruptcy and Debt
Strong Legal Notice--Recovery of amount
