Legal Question in Banking Law in India
my father expired in 2011 and this week we received a bank notice saying my father was garunteer for a defaulted personal loan and asked for paying the borrowed money in 2 weeks. we don't even know who is the borrower, what to do in this case
Asked on 9/03/15, 9:14 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
04.09.2015
Dear Sir / Madam,
You should reply to the Bank notice asking them to provide documentary evidence and proof of your deceased father being the guarantor. You may also ask the Bank to provide Court evidence that the prime borrower has been declared "insolvent" by the Court.
Regards.
Answered on 9/04/15, 4:39 am
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