03 February 2012
my firm has availed loan under cgtsme cash credit for rs.40.00 lacs. as we have suffered a huge loss and now it is not in a position to repay the amount. what will be the consequences if we have not paid the loan amount.
03 February 2012
whatever property you have mortgage against that loan will call for sale. The governing body can waive the loan amount. better to apply for a waiver of loan.
CAclubindia
