refusal regarding funds

sadafabbas · Post by **sadafabbas** » Sun Oct 13, 2013 8:15 pm

hey All !
i need your help please
we got refusal that my money is not available for my business partner and vice versa, then we open business account and transferred 50k into business account.we had money in different saving accounts but not mentioned any affidavit or any form of paper shown that money is available for each other but i m not sure that money should be in personal account or business account ?

gulrose786 · Post by **gulrose786** » Sun Oct 13, 2013 8:37 pm

Did u had 50k in different accounts at the time of application? explain in depth if you want to have some good answers

sadafabbas · Post by **sadafabbas** » Sun Oct 13, 2013 9:27 pm

we had funds in different account (saving account) in the time of application,and our banks said we are not giving you any letter ,mention that your money is available for your [partner but we did not submit any affidavit on that time ,

mcr2013 · Post by **mcr2013** » Sun Oct 13, 2013 10:16 pm

money should be in ur personal account not in business account

rizwan567 · Post by **rizwan567** » Sun Oct 13, 2013 10:58 pm

Open up a joint account and put money in that.

sadafabbas · Post by **sadafabbas** » Mon Oct 14, 2013 6:12 am

thnx for all guru but we already transfer money in to business account and our hearing date end of october
do i need to send money again in t joint account ?

Entreprenuersweare · Post by **Entreprenuersweare** » Mon Oct 14, 2013 9:51 am

sadafabbas wrote:thnx for all guru but we already transfer money in to business account and our hearing date end of october
do i need to send money again in t joint account ?

Hi Sadafabbas

Can you please specify your date and location for the hearing.

Thanks in advance.

Darvesh · Post by **Darvesh** » Mon Oct 14, 2013 10:59 am

bank normally never give out any letter saying ur money available to any xyz person and why would they be giving such letter anyway?

so the solution was to sign an third party affidavit signed by both parties with solicitor letter.

money in business account wont be treated as investment money so it has to be in personnal account (possibly a joint account-if team application).

now ur application has been decided and unfortunately refused.....

u better put all ur money in Personal account rather than keeping it business account.

Legal83 · Post by **Legal83** » Tue Oct 15, 2013 7:46 pm

if money is in business account, that mean you given a director loan to your business, so don't need to transfer it to again in to your personal account, you must provide director loan agreement at the time of hearing as an proof, if ask so

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refusal regarding funds

refusal regarding funds