Fixed deposits in pvt ltd cos.
dasarat
(Querist) 25 July 2014
This query is : Resolved
Safety / Security:
I deposited my savings in one of my relative's PVT LTD COMPANY. The owner's gave an acknowledgement on the company's receipt.
A 2 line receipt showing the sum received and the rate of interest payable monthly.
I am regularly receiving the interest through the said company's a/c payee cheque drawn on my name.
My query is if or in case the company is closed owing to some reason (loss etc) 1.Can I file a suit on individuals name and claim my FD ?
2. Are the owners / partners responsible for the amount received on their company;s name.
3. Please help me with your opinion.
4. If my savings are under complete risk, please suggest me some remedy to try out the same for safety / security of my savings.
ajay sethi
(Expert) 25 July 2014
summary suit would be against the company and not individual .
directors are not personally liable for debts of the company.
better invest your savings in mutual funds . go in for balanced plans where they invest 60%in equity and 40%in debt
Rajendra K Goyal
(Expert) 25 July 2014
Suit is to be filed against company, not individual.
Company is liable for the debts of company.
You should invest your savings with PS banks / PSU / Banks.
