Legal Question in Banking Law in India
was it not banks duty to find another guarantor for their bank loans by giving notice to loan borrower for finding another guarantor since his present guarantor has been died. what is the proper procedure to be followed by the bank
Asked on 3/07/10, 8:18 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
No, it is not bank's duty but borrower's duty to find a fresh guarantor; otherwise, the bank may recall the loan and demand entire dues from the borrower.
Answered on 3/07/10, 8:43 am
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