Legal Question in Banking Law in India

Banking Law

Sir,

Can a Gurantor withdraw his Gurantee from bank


Asked on 4/17/08, 9:16 am

6 Answers from Attorneys
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: Banking Law

permission of bank required

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Answered on 4/19/08, 9:16 am
Vijay Chandavale Advocate Vijay Chandavale & Associates

Re: Banking Law

If Bank permits guarantee can be withdrawn . In case the guarantor feels that more loss is likely to be cuased in such an even in order to save further more losses g'tor can well terminate his guarantee and file a suit for violation of terms of guarantee

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Answered on 4/18/08, 10:40 am
Vivek Mapara Vivek N. Mapara

Re: Banking Law

It will be subject to banks approval.

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Answered on 4/17/08, 10:24 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Banking Law

The Bank has got their rules and regulations so Permission is needed from the Bank.

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Answered on 4/21/08, 1:27 am
J. Radhakrishnan independent Practice

Re: Banking Law

Guarantee once given can be revoked only against future transactions and not in respect of debt which has already quantified.

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Answered on 4/17/08, 11:01 pm

Re: Banking Law

Yes,with the permission of bank.

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Answered on 4/19/08, 5:02 am


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