Question

21. Amrlt was a dealer of dry fruits and spices. He was exporting to
China, U.S and a few countries in Europe. He is now faced with huge
losses and has unsold stock because of the effect of the pandemic. He
has debts of around 5 crores. His business assets will not be sufficient to
pay off his debts. He has ancestral property in his village. Should he sell
his private property to pay off his business debts. Why?​

Answer 1

Its his choice give his property to pay off his loan because its not mentioned that if the loan is given then the personal assets are used. But if he want to pay off his loan then he must sell his property

Answer 2

if it will it be sufficient for him if he sells it along with his business assets and if everyone in hus family allows him to do it ( as it is ancestral property) and it can be done legally then he should sell it

Explanation:

because it is wise to sell and make his debt zero rather than have assets or property wwith him and paying extra dues and other things for it.