Dear Friends,
Now am a Proprietor of Mohan Enterprises and having one Crore business loan with AXIS Bank.
I am planning to close Mohan Enterprises and will join as a partner in new partnership entity.
In this case is it possible to transfer loan liability one Crore from MOHAN ENTERPRISES to new Partnership firm?.....
1 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 04 April 2021
No, Loan should be paid under which entity it has been taken
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