Legal Question in Banking Law in
at the time of renewal of hyp.loan renewal of cooperaive bank of maharashtra i have not signed as guarntor . before that once i have signed. loan become defaulter; for recovery ;bank held me responsible as a guarantor , what is law says.
Asked on 8/30/10, 8:20 pm
3 Answers from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
as advised earlier, a guarantor is also responsible for loan along with principal debtor.
Answered on 8/30/10, 10:40 pm
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
If loan has been renewed and the guarantor did not sign, he cannot be held liable for recovery.
Answered on 9/08/10, 2:32 am
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