Legal Question in Banking Law in India

Hello. i had given gaurantee to get overdraft facalities against stock to my friend. unfortunately he got some problem in his business. on that time bank manager did F I R against borrow and me(guaranter). i am only guaranter. how can bank file criminal case on me. please give me advise. what i have to do. thnks & regds


Asked on 3/20/10, 5:39 am

3 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Be diligent. You may need to defend yourself by engaging a local lawyer.

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Answered on 3/20/10, 5:52 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

For further opinion, you may send a copy of the FIR by e-mail.

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Answered on 3/20/10, 5:52 am
J. Radhakrishnan independent Practice

On the limited facts u have given, there is no scope for giving a complaint to Police or Magistrate for default of the borrower, against you as a guarantor. Engage a competent local lawyer and fight out the case.

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Answered on 3/21/10, 5:53 am


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