Legal Question in Banking Law in India
can a defaulter can be a gaurantor in the same bank
Asked on 7/12/10, 7:25 am
1 Answer from Attorneys
There is no law which prohibits a defaulter from becoming guarantor. However normally banks accept only persons with impeacable credibility as guarantors. Since a defaulter loses his credibility, the chances of a bank accepting the guarantee of such a person is very less.
Answered on 7/12/10, 7:31 am
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