Question
A owes Rs 60,000 to B. Before clearing his liability, A
dies leaving behind an estate worth Rs 40,000. In this case, A’s legal representatives are liable forSolution
As per S. 28 B of SEBI Act 1992. Continuance of Proceedings (4) The liability of a legal representative under this section shall be limited to the extent to which the estate of the deceased is capable of meeting the liability.
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