a proprietory concern has availed loan in a bank now he wants to change the constitution in to partnership firm and continue the business . Now what kind of documentation the bank to get.
vikram singh (advocate) 31 October 2013
a proprietory concern has availed loan in a bank now he wants to change the constitution in to partnership firm and continue the business . Now what kind of documentation the bank to get.
Dr J C Vashista (Advocate) 01 November 2013
Get in touch with banker and engage a local lawyer
BAALASUBRAMANNYAMM (Advocate) 01 November 2013
The partnership firm, while executing a "Deed of Partnership" should have a clause of" acceptance of liability of loan" by all the Partners and a copy of the same should be submitted to the Bank. Then, the Bank will get all the signatures of the Partners of the said firm, according to their norms.
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