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My business partner took a huge loan in our company's name without informing me?
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My business partner took a huge loan in our company's name without informing me?
I am based in Mumbai and recently discovered that my business partner took a loan of ₹50 lakh in our company’s name without consulting me. We are a partnership firm and I only came to know when the bank sent me notices of unpaid dues. I trusted him completely but now feel betrayed. I am concerned about my liability and how this affects my personal finances. What legal action can I take against him? How can I protect myself from this debt?
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