Legal Question in Banking Law in India
Sir / Madem,
I am a Govt Employee and I stood as a guarantor to my colleague for personal loan in SBI. Now my colleague is defaulter and received a Notice from court as a defendent No: 2. If my colleague not pays the amount to bank within 12/7/2011 what will be the court action against us ?. If court orders for salary attachment to both of us. Any chances is there to avoid my salary attachment ? I am worrying day and night please reply.
Asked on 6/30/11, 4:36 am
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
You have to some how or other persuade your friend to pay off the loan. Otherwise, the Bank will get a court decree against you and attach your immovable property or salary.
Answered on 6/30/11, 7:52 am
KarVai Legal Solutions
Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in
yes u may get in trouble
Answered on 7/01/11, 3:37 am
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