Legal Question in Banking Law in India

can anyone please mention any leading case law with respect to this. (If there is default by the principal borrower of the loan guaranteed by deceased guarantor, the bank should issue notice to the legal heirs of the deceased guarantor that they have to pay the loan out of the assets, if any,of the deceased in their hands and they not satisfying the debt file a suit against borrower and legal heirs of guarantor, seeking personal decree against borrower and against the assets, if any of the late guarantor in their hands.)

Asked on 7/08/19, 7:11 am

1 Answer from Attorneys

Sanjay. K. Dixit, Advocate. Sanjay K Dixit, Advocate @ Karnataka Bar Council Enrolement No: "KAR/898/2007"

Usually, any loan availed by the person against co-lateral surity through guarantor, then bankers lien have to attach such guarantor, heirs during such case of default.

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Answered on 7/21/19, 5:15 am

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