Legal Question in Banking Law in India
account termed NPA then a tripartite agreement between the 2 directors and the guarantor was formed and 95% payment has been made but one of the directors has defaulted and the bank isnow wanting to file the case though the bank has filed a sec138 on the erring director what is the status and the guaronter should do in context to this had sold the asset before the account was NPA
Asked on 3/24/10, 8:24 pm
1 Answer from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
though the guarantor is liable for the payment but his defense can be made only after going through the relevant documents.
Answered on 3/28/10, 9:59 pm
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