Legal Question in Business Law in India

my sister has strated a bussiness with 25 lac loan in sbi, the loan has sanctioned under cgtmse, my father is the guarntor, now the company is not running, the account is in NPA, the bank as send the notice to guarantor, guarnator has asked to the borrower, is not in possition to pay the loan, what we can do

Asked on 11/17/13, 10:17 pm

1 Answer from Attorneys

Rajiv Chandhok Ph: +919810050896

The guarantor has the liability tom pay in case of default by the borrower. Let the matter go to DRT and contest the same there. this could help you to buy some time. You may drop in a detailed query at [email protected]

To know us better, please click on the links below:


Read more
Answered on 11/17/13, 10:38 pm

Related Questions & Answers

More Business Law questions and answers in India