Legal Question in Banking Law in India
Please advice:
can I withdraw my bank gaurantee which I have given for my friend for his business purpose. the final limit from the bank consists of 5 properties and mine is one of that. but till date only 60% of the total limit is utilised. my property hold only 10% of the total limit.
please guide how can I withdraw my limit from this bunch.
in the first place I would like to know tht is it possible or not?
thanks
Asked on 12/23/11, 5:32 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
you can withdraw your guarantee for future drawings. But for past liability you are answerable.
Answered on 1/02/12, 6:42 pm
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