Managing director of a company expired
vikram singh
(Querist) 06 December 2012
This query is : Resolved
The company has obtained loan from the bank. recently the MD of the said company was expired .please suggest what is the procedure to be followed by the banker.Any documents to be obtained from the board..Please advise its very urgent.
V R SHROFF
(Expert) 06 December 2012
Let Banker do the needful, and break his Head. Bankers are Professionals and know their procedures well. bankers have enough financial resources to do all such jobs. You need not worry about it.
Other Party is a Company and that too is Professional and doing Business.
Experts site is not for Profiteers Businessman, or firms, They must avail paid Legal services.
Why is it Urgent for you??
I am sure, you are neither a Company, nor a Banker.
And if at all you are Advocate , u should take help of ur Sr.
Raj Kumar Makkad
(Expert) 06 December 2012
You have given loan to a company and not to the individual managing director which unfortunately has expired. You may in general send a letter to the mortgagor company to every time intimate the change of their managing director so as to update your records. No more action is required to be initiated in the given matter.
