Legal Question in Banking Law in India
In case a guarantor has given his consent to the debtor that now i will not carry your liability towards the bank guarantor and intimates bank as well the same, then whether the guarantors liability still alive.
Asked on 4/18/14, 10:10 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
19.04.2014
Dear Sir / Madam,
A guarantor can be changed provided the Borrower furnishes an alternative guarantor in place of the guarantor who absolves himself of the guarantee to the Bank for the loan.
Regards,
Answered on 4/18/14, 7:33 pm
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