Selling of machinery

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Querist : Anonymous

Querist : Anonymous (Querist)

24 October 2012 Dear experts,

I am to purchase a second hand plant from a manufacturer who already has taken term loan on that particular machine. He is also having cash credit facility from his banker.
Please suggest me what precautions I should take while purchasing this machinery.
Thank you very much for your time.

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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24 October 2012 But He Cant Transfer The Plant To You Untill n Unless Loan Hav Been Paid or Permission from Lender.
Otherwise He Will be Treated as Default, Or You Just Have a Proper Arrangement of Papers Work.
Otherwise Confirm from That Manufacturer, If he registered as Company Then Doctrine of Outsider May Attract, Not Sure,

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