Legal Question in Banking Law in India

Dear Sir,

In the present case borrower is james.Nationalised Bank has given the Loan to James four years back.

Guarantor is jat.

Guarantor has given his property as collateral security to the nationalised bank.

Bank officer after putting pressure obtained cheque from Guarantor and deposited in the bank. when it bounced, bank officer has filed criminal case in court.

Now he has not made the Borrower james as party to this case.

We are from the side of the Guarantor,

we intend that the borrower is to made the party to this case.

How?

Borrower is liable to pay the loan.We want him to bring to the books and infront of Court.

How the steps are to be taken?

Yet WS is not filed in the court.

Regards,

Vijay


Asked on 2/14/10, 7:14 am

2 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Instead of an advice from this Forum, you require professional help of a lawyer to pursue your remedy. Contact an Advocate in your area; and request him to seek addition of borrower as a party. However, guarantor is equally responsible and the lender may not want to take any action against borrower; it is lender's discretion. In case there is any recovery from you as a guarantor, you may in turn recover the same from borrower.

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Answered on 2/14/10, 10:04 am
Pravin Vaidya Independent

It is lender's prerogative to make the borrower party or not. As a guarantor you can only find out whether any there is any lapses on the part of lender in observing terms & conditions of loan on the basis of which you have become guarantor

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Answered on 2/26/10, 4:58 am


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