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FYou are a guarantor on the loan so you are liable to pay it off. Even if the loan is secured, the security may not necessarily cover the entire loan amount. It is quite common in business loans/CC/ODs that the collateral covers only 60-70% of the sanctioned amount and the rest is unsecured. With interest, penalties and other charges you are looking at 50-60% of the outstanding loan being unsecured.
Long back just out of college my very close friend asked me to sign as a guarantor for his home loan. I refused. We never talked to each other for almost a decade (he cut off relations). But then eventually better we got back to talking. He never defaulted on his home loan EMIs but then you can’t predict the future. Better safe than sorry.
FIf you were born after 1989 then birth certificate is a mandatory document. Without this you won’t get a passport also. However if you were born before 1989 then birth certificate is optional. Your high school leaving certificate or some other document can act as a proof of date and place of birth.FI think the only issue at hand is the notice period pay. Other things like email access revocation, manager not being involved in the process etc is not really illegal. There is no law that entitles you to severance pay. It’s on the goodwill of the employer. But you are entitled to notice period or salary in lieu unless you are in probationary period in which case your employment may be terminated without notice or assigning a reason. Read your appointment letter carefully and see what it says about employment termination, probation period, employment confirmation etc. You can consult a lawyer but at most what you are look at is 30/60 days of salary. If that amount is significant, take the legal route. Otherwise just find another job ASAP.FYou and your father are different persons. One does not impact the other in legal/financial or visa matters.FIs the new company taking the employees on their rolls as fresh employees? If so, they may be asked to resign from previous org and accept the offer from new one. This is typically done when the company has not been acquired, rather only assets have been acquired. The acquirer does not want to inherit any liabilities of the old company and must have structured the deal accordingly.If the new offer is good, then sure accept it. Of course the downside is that the 3 years of service will not count towards gratuity payments. If the founder can compensate for that (45 days of basic pay), that should be a fair deal.
If the offer is not all that good, then I guess you can be terminated by providing the notice period mentioned in your appointment letter or salary in lieu.
FThe second bonus was a mistake and must be reversed including taxes.For the first bonus you will have to return it completely including tax on it. It will still be counted in your income.
FThis is a standard practice for commercial loans, overdrafts etc. the bank engages a firm for legal DD but the bill is handed over to the loan applicant. However usually never happens for home/personal loans.FIf these are unsecured loans and the person has no assets that will be inherited by the parents then banks are out of luck. However if this person has assets which will be inherited by the parents then banks can come after the parents for loan recovery. So check what’s the value of his deceased person’s assets and if it’s less than 17 lacs, then just don’t inherit anything. Let the banks deal with his estate.FIf the flat is in your mosi’s possession then stay put. No buyer in their right mind will buy the property.
