Legal Question in Civil Litigation in India

I am a Owner of the land which had been promoted with help of a promoter. I am owner of 25% of the total land and got less amount of flat from the promoter. We have give a power of attorney to one of our land owner to deal with the promoter and other legal matters. Recently we came to know that partner took a personal loan form a bank against our total land. It was totally unknown to me. Now that bank came and want to start the legal proceedings. I have no money to repay the loan fully and that partner is also not interested to repay it. Please help me, how can I get out of this hell?


Asked on 6/29/12, 9:27 am

3 Answers from Attorneys
Vivek Mapara Vivek N. Mapara

Important things to know is, does the power of attorney mention about right to take loan over the Property, or to make charge over the property. If that do not, then irrespective of the loan taken on the entire property, you are not liable to pay loan. Secondly, i presume that no signature or your consent would be taken by bank at the time of issuing of loan, then you are not personally liable thereto. Bank cannot have any claim against you. At the most, they can proceed further against the share of partner in the land, but not against you. However, this is subject the terms in the power of attorney.

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Vivek N Mapara

Attorney

www.vnmlaws.com

09426482371

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Answered on 6/30/12, 11:17 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

in case it was personal loan, then other partners may not be held liable unless the loan was obtained on behalf of partnership firm.

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Answered on 7/01/12, 10:50 pm
Aniruddha Pawse Aniruddha.P.Pawse Advocates

How can you be liable for personal loan of partner.

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Answered on 7/05/12, 11:05 pm


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