urgent please

This query is : Resolved

ravi agarwal (Querist)
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26 June 2008 Loan given to a company by its director's father(Say X) few years ago..
In the year 2005, X died.
No legal hier of X has claimed the amount due to company till date.
please suggest me the appropriate treatment for the same.

CA. Yayati Tyagi

CA. Yayati Tyagi (Expert)
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26 June 2008 1) either company can continue to retain this amount untill any legal heir claims, or

2) if company want to return this money, it can contact to family of deceased person and can ask them to claim the money with appropriate documents of being legal heir.

if you don't know abt any relative, can give advertisement in papers.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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27 June 2008 How does the director keep quiet?

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