Abolish pious obligations and personal guarantees
- Debt Recovery Tribunal
1) The trading fraternity has no such cover as BIFR which has been there for years and big concerns have taken shelter and escaped scot free, why not give another 30 years too for trading?
2)Why should the family be penalised for a company's misfortunes, either the banks and other financial institutions should take a security from the family and not penalise the family when the business started as all were minors.
3)Why should a personal guarantee be signed when anyway pious obligations are there? And why are the institutions giving finanacial aids without finding out or getting securities from the person's background.
The law here is lopsided and should abolish pious obligations and personal guarantees.
The laws of trading/finance are lopsided and should abolish pious obligations and personal guarantees.
The Abolish pious obligations and personal guarantees petition to Debt Recovery Tribunal was written by sonya and is in the category Business at GoPetition.