Legal Question in Banking Law in India
I have guaranteed for a loan of Rs 50000/-. about four years ago from Canara Bank for a friend. The borrower defaulted and the bank has recovered the money from my account. What legal action I can take against the borrower? Will I get my money? Please guide me as to what to do?
Asked on 1/31/11, 8:04 am
1 Answer from Attorneys
Vishwa Arya
Arya & Co.
you may file a civil suit for recovery of the amount with interest
Answered on 1/31/11, 8:10 am
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