Legal Question in Business Law in India
My brother-in-law expired on 11th Feb., 2016. He is already signed as a guarantor for a prized subscriber in a pvt. Chit fund company. Now the prized subscriber (un employee) is absconded for the few months. In these circumstances are the dependents of the guarantor liable to pay money to the chit fund company?
Asked on 3/14/16, 8:25 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
14.03.2016
Dear Sir / Madam,
You and the legal heirs may lodge a Police complaint against the prized subscriber being an absconder and his / her whereabouts not being traceable. You may thereafter submit a copy of that Police complaint with your brother in law's Death Certificate and no-liability letter to the Chit fund Company and obtain their acknowledgement on your letter.
Regards,
Answered on 3/14/16, 8:44 am
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