Legal Question in Banking Law in India
What happens to a FD placed by a guarantor after the guarantors death - marked as lien by bank against sub judice bank guarantees issued for one of thier borrowers ?
Asked on 4/16/12, 4:40 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
The bank can adjust the proceeds of the FD given as security after issuing notice of demand to the deceased depositor-guarantor's legal heirs.
Answered on 4/27/12, 4:27 am
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