Deceased children asked to repay balance loan amount

Querist : Anonymous (Querist) 09 September 2010 This query is : Resolved
The joint principal borrower in a pvt limited company who is deaceased since 2 years after the company was formed ,for which a mortgage loan on her property was obtained,now its 22 years since she expired,are the children of the owner of the property who held no shares in the coimpany at any time,now responsible to pay back the mortgage after the said property has been auctioned and sold by the financial institution for less than the loan amount that was due to them.Please advise

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