Legal Question in Business Law in India

If anybody uses a assigned fixed deposit reciept as a gaurantee and if any liability comes against it . In such condition who has to bear it? Assignee or assigner.


Asked on 6/27/15, 9:38 pm

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP

30.06.2015

Dear Sir / Madam,

If the assignee of a Fixed Deposit has provided the assigned Fixed Deposit receipt as a security to the Bank on account of being the guarantor, the assignee remains liable to bear the liability.

Regards,

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Answered on 6/30/15, 6:40 am


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