Legal Question in Banking Law in India
Can a guarantor get the photocopy of the loan documents from the bank when an original borrower fails to repay the loan amount and the Bank has taken action against the guarantor? The photocopy of the documents is to take legal action against the original borrower. Is it possible to take legal action against the borrower if he doesn't own any property.
Asked on 11/03/10, 10:45 am
2 Answers from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Yes, a guarantor is entitled to sue the borrower and demand documents from the Bank for appropriate action.
Answered on 11/03/10, 11:04 am
Vishwa Arya
Arya & Co.
the bank is under obligation to give the copies of the document to the Guarantor.
Answered on 11/03/10, 9:48 pm
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