Legal Question in Banking Law in India
If Creditor live and bank have option to recover the loan but due to defaulter is it gurantor shd pay
Asked on 10/26/10, 3:40 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
you mean the principal debtor. The Bank is entitled to recover the amount from the guarantor even without proceeding against the principal debtor. That is the reason why banks take guarantees.
Answered on 10/27/10, 8:02 am
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