Q: I have an auto loan in Dubai, but I am no longer in Dubai. What is the best way to resolve it?

Q: Dear Sir/Madam, Is there a path to initiate some sort of investigation by relevant authorities on a company that may have committed fraud by falsifying positive P&l reports in order to obtain loans from a bank? Loans have been used to finance construction projects. The company has in fact been making losses for over six years & directors/owners have used operational cash to finance down payments & repayments, instead of using their own capital. In the process, they owe millions to suppliers and also 100s of thousands to staff/workers as they have been constantly delaying payment of salaries going back 3 years & not paid full salaries to everyone for 9 months. They have been showing/submitting financial reports showing losses as proof/reason for their inability to pay. Is there a way to combat this kind of deception/fraud?

Q: A bank offered and granted a loan of AED 500,000 to our company in June 2019. All instalments were being paid till Feb 2020 after which our business suffered a considerable setback due to COVID-19. Luckily, the bank offered deferment of instalments for 6 months that have ended now but our business hasn't picked up yet and we may not be in a position to pay instalments until we get back on level as before. Kindly inform us of the consequences if we fail to pay the installments. Regards S. S.

The provisions of this Law apply to the commercial companies established in the UAE and the foreign companies that have established in the UAE a base to conduct any activity therein or established a branch or representative office. The Law abrogates Federal Law No. (8) of 1984 Concerning Commercial Companies.