Write off debts when the legal case is filed
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2013
Dear Sir,
If a debt recovery case is filed in the court for the outstandings on account of sale of company products against the defaulting party can we.......
1 ) write off such debt since the debt is more than 5 years and the case is on going.
2)if Yes, will this casue unjust enrichment if we later on receive money from the defaulter against the writeoff debts.
Please advise.
If a debt recovery case is filed in the court for the outstandings on account of sale of company products against the defaulting party can we.......
1 ) write off such debt since the debt is more than 5 years and the case is on going.
2)if Yes, will this casue unjust enrichment if we later on receive money from the defaulter against the writeoff debts.
Please advise.
Rupesh Jain
(Expert)
19 June 2013
R/SIR
DURING CASE PROCEEDING COURT DEMAND YOU YOUR LATEST B/S AND A/C STATEMTN OF PARTY THAT YOU ARE REAL CREDITORS OF THAT PARTY.
IF YOU WRITE OFF . THEN YOU FACE ABOVE PROBLEM.
DURING CASE PROCEEDING COURT DEMAND YOU YOUR LATEST B/S AND A/C STATEMTN OF PARTY THAT YOU ARE REAL CREDITORS OF THAT PARTY.
IF YOU WRITE OFF . THEN YOU FACE ABOVE PROBLEM.
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