Sir,
Please advice me regarding the following issue:
1. One of the firm in Ahmedabad (Roller Flour mill) took term loan of Rs.2.50 crore from GIIC, Ahmedabad in 1996. During 2006, GIIC has filed a civil suit for recovery of dues to the tune of Rs.11 crore.
2. BIFR has declared the unit as Sick Unit
2. I have given personal guarantee.
3. In the details of property column, the details of property which is given is dubious. Neither I have submitted any papers related to my property.
4. In fact, i was an employee working for the company. But he made me as Director (on papers).
4. As on date, I dont have any property. But I am a Govt. employee.
Please advice regarding the legal implications on me.
