Legal Question in Banking Law in India
What if at the end of the tenure of an SBLC,or a BG, we fail to repay ? How will the lender take recourse ? We can move further only if it is a real transaction, i.e. SBLC / BG issued & discounted. It should not be something like accommodation LC.
Asked on 11/29/10, 9:03 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
The lender can enforce the securities and or file suit against the obligant/debtor
Answered on 11/29/10, 6:31 pm
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