Legal Question in Banking Law in India
my father was a guarantor to one of his friends, now he has passed away and the one who took the loan's defaulting. and the bank's threatening us that they will recover the amounts from my mother's pension. can they do that? please help
Asked on 2/19/10, 11:20 pm
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
No. If liability of your father as a guarantor was in his 'personal' capacity (i.e. without giving any property as collateral mortgage), no proceedings can be taken to recover any money from his pension or from your mother.
Answered on 2/20/10, 7:33 am
Related Questions & Answers
-
Sorry to ask this Question again, i asked this question before also, but now i m... Asked 2/18/10, 8:01 pm in India Banking Law
-
A trust which had offered a guarantee for a loan granted by the bank and executed... Asked 2/18/10, 7:51 pm in India Banking Law
-
Dear sir, when i was working in dubai i took a loan, still i have outstandings... Asked 2/18/10, 11:53 am in India Banking Law
-
Thank you for your replies and apropos one in particular - As far as I was aware,... Asked 2/18/10, 5:30 am in India Banking Law
-
What is statue of limitation and when does it start ? What is the period for... Asked 2/17/10, 1:59 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.
