Paras Yadav 29 May 2023
Mr. X is a director of two companies, namely 'A' and 'B'. Company 'A' provided a loan to company 'B'. However, in 2018, Mr. X sold his companies to new owners without any mention of the loans from company 'B' in the sale agreement. Now, in 2023, can Mr. X claim money from the new owners?
Real Soul.... (LEGAL) 29 May 2023
That is an academic question.. however they are right in claiming the money from the company ; As when the new owners bought the company they bought the liabilities too, unless in the sale of agreement the transfer of previous liabilities are categorically specified upon previous owner.
kavksatyanarayana (subregistrar/supdt.(retired)) 29 May 2023
No. He can't ask them.
Paras Yadav 30 May 2023
Thanks
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