Hi All,
We live & doing export business of Metal Handicrafts in Uttar Pradesh.Our company is properietorship, in which my father is properietor..Due to the fall of demand & depreciation in dollar rates our business turnover has very much fallen down & has turned out in to big losses.This fall in business has resulted in not paying the bank interests & as a result of which the account has fallen in NPA category & the Banker's has started the procedure of possession of our martgaged properties & the possession notices has been printed in the newspapers as per the law.
Now we want to create a new private limited company & start a construction business.Please clarify if my father & I will be the director in the new company.Will there be any problem in applying for the loans or finances for the new business??????
NEED HELP & ADVISE.
We live & doing export business of Metal Handicrafts in Uttar Pradesh.Our company is properietorship, in which my father is properietor..Due to the fall of demand & depreciation in dollar rates our business turnover has very much fallen down & has turned out in to big losses.This fall in business has resulted in not paying the bank interests & as a result of which the account has fallen in NPA category & the Banker's has started the procedure of possession of our martgaged properties & the possession notices has been printed in the newspapers as per the law.
Now we want to create a new private limited company & start a construction business.Please clarify if my father & I will be the director in the new company.Will there be any problem in applying for the loans or finances for the new business??????
NEED HELP & ADVISE.