shweta 30 November 2017

Transfer of loan

Mr. A has given loan to xyz company and the said company has given loan to PQR Co. Hence In PQR Co. financials loan from xyz is showing..can XYZ transfer loan in name of Mr.A..So that in PQR Financials loan from Mr. A is shown instead of XYZ Co.

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R.S.Rajesh 30 November 2017

As for as xyz and pqr is concerned, xyz is creditor and pqr is debtor. Hence i am of the view that by assignment of debt payable from pqr directly to A, by assignment agreement, the name mr.A can be shown. Refer section 130 and 131 of T.P. Act.