was it not banks duty to find another guarantor for their bank loans by giving notice to loan borrower for finding another guarantor since his present guarantor has been died. what is the proper procedure to be followed by the bank
Asked on 3/07/10, 8:18 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
No, it is not bank's duty but borrower's duty to find a fresh guarantor; otherwise, the bank may recall the loan and demand entire dues from the borrower.
Answered on 3/07/10, 8:43 am
Related Questions & Answers
-
What is the bank duty if the guarantor dies after being guarantee for some others... Asked 3/07/10, 5:19 am in India Banking Law
-
CAN YOU PLEASE MAIL ME A SAMPLE FOR FILING COMPLAINT U/S 138 OF N.I.ACT 1881... Asked 3/06/10, 8:00 am in India Banking Law
-
Cheque Bounced - Account Closed Transffered, Bank has written this advice can I go... Asked 3/04/10, 12:00 am in India Banking Law
-
Bank took action under the sarfaesi act and recovered an amount of Rs25 Lakhs out of... Asked 3/02/10, 7:01 pm in India Banking Law
-
I go to deposit a cheque of amount 139Rs. only in State bank of India and ask for an... Asked 2/27/10, 2:33 am in India Banking Law
