Legal Question in Banking Law in India
a,b,c,d are four partners in x&co;. and a, f,g,h,i,j are partners in another firm Y & Co. Now if a/c of x & Co becomes NPA with bank. Is a/c of Y & Co. will also become NPA. If yes then please explain the rules also.
Asked on 10/05/11, 4:31 am
3 Answers from Attorneys
J. Radhakrishnan
independent Practice
from your question a alone is the common partner in both X & Co. and Y& Co. If X& co. defaults in payment, merely because Y & Co has a as partner, the latter will not become NPA if it is regular in servicing its loan.
Answered on 10/05/11, 5:05 am
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
i agree with Adv Radhakrishnan
Answered on 10/05/11, 6:10 am
KarVai Legal Solutions
Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in
i too agree
Answered on 10/07/11, 2:56 am
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