Legal Question in Banking Law in India
if the sub limits were changed temporally within the overall limits and the guarantor has not signed the arrangement letter, is he released from his guarantee?
Asked on 6/14/13, 1:24 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
14.06.2013
Dear Sir / Madam,
No, he still remains the guarantor to the facilities availed by the borrower.
Regards,
Answered on 6/14/13, 4:35 am
J. Radhakrishnan
independent Practice
No, the guarantor has guaranteed the total limits. He is not discharged merely because the sub-limits are changed.Themguarntee agreement protects the lender bank.
Answered on 6/14/13, 11:29 am
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