Legal Question in Banking Law in India

Im a guarantor and the borrower refused to pay loan. now bank is sending notice for repaying the loan amount. How could i protect myself because i know borrower can return the loan amount but he is not paying. He has so many lands and properties. Please suggest what step should i take? Im in big trouble.

Asked on 4/28/13, 9:14 pm

1 Answer from Attorneys

Jayesh Desai Jayesh Desai

This a bit complicated situation, irrespective of borrower paying or not, you are liable to pay.

Hence, you need to contact a good lawyer on priority basis to protect your interest.

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Answered on 5/01/13, 7:10 am

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