Director Forged
Director Forged
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Can i have some lawyers to answer this one?
The story goes like this,we 4 guys of the comp. signed the loan documents with the bank. My boss(md) forced me to sign since am one of the directors.The comp could not return the money, so the bank filed a case (debts recovery tribunal) in order to sell the mortgaged immovable properties of my boss. But my Boss wanting to take revenge on me gave the court about my properties so that he gets out of it. Meanwhile one of the directors proved that his sign was forged in the guranteed agreement.
What possibilities do i have?
the agreement is forged so it is not valid isnt it am i right?
One of the director proved his sign were forged but how this makes whole guarantee agreement forged? The only plea you can take is that your signatures were taken by force & misrepsentation as you were not given the details regarding the agreement that was being signed between the company & the bank. Mind you even the courts & tribunals understand whenever any loan agreement are being drafted or got signed by any finacial intitution, these institutions make them so cumbersome & favouring their own interest without giving the parties seeking loan to defend their case in case of default.As a director of the company you are liable for the default but if you take plea of your ignorance of the details of this agreement by saying these were not discussed in the board meeting & your signatures were taken by force & misreperstation I think you may be able to get some relief.