Legal Question in Bankruptcy in India
Sir
i am one of the trustees of a charitable trust and also a personal gurantor of loan taken by the trust. not all trustees are personal gurantor and the value of the assets mortgaged is far more then the loan. few of the trustees want to use the legal provisions to their benefit and defraud the creditors and financial weak trustees by buying the mortaged property from DRT in some other dummy trust. what options we have got to stop them from doing this. how can we make the drt recover from trustees first and sell the mortaged property later.
Asked on 11/14/12, 5:32 am
1 Answer from Attorneys
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