Legal Question in Banking Law in India
hello , i want to know what are my liabilities if iam a garaunter to my friends business loan
Asked on 1/05/15, 1:01 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
08.01.2015
Dear Sir / Madam,
As a Guarantor to your friend's business loan, your liability lies in repaying and settling the loan amount in the event the borrower is unable to repay it back to the bank.
Regards,
Answered on 1/07/15, 8:40 pm
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