Legal Question in Banking Law in India
Dear Sir, I had stood as surety (co-applicant) for a personal loan taken by my colleague (Govt. servant). He has defaulted in payment and the bank has filed a suit making both of us as defendants. My colleague is still in service, drawing salary and capable of repaying the loan. What is my liability as per the judgments in the matter?
Asked on 3/10/11, 10:27 am
1 Answer from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
the bank may attach the salary of your colleague and you may avoid the liability.
Answered on 3/10/11, 11:18 pm
Related Questions & Answers
-
Father expired property through will inherited to son can he avail loan on the title... Asked 3/10/11, 9:16 am in India Banking Law
-
What are the defenses available in case of dishonor of cheque? Asked 3/10/11, 4:23 am in India Banking Law
-
Sir when and which year the motto"sateyameva jeyate" incorpated below the... Asked 3/06/11, 11:04 pm in India Banking Law
-
We have already 3 times cheque bounce case.but with in 15 days we cleared.can i get... Asked 3/06/11, 6:40 pm in India Banking Law
-
Wheather investment of shares bussniess if a cheque is given and which bounce,it... Asked 3/06/11, 11:26 am in India Banking Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
