Legal Question in Banking Law in India
what is the guarantor's liability in case of when bank grant a loan on basis of false/wrong/incomplite documents.
Asked on 6/24/11, 1:19 am
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
guarantor's liability is the same as that of the borrower whether the borrower has produced genuine or false documents. No escape from recovery.
Answered on 6/25/11, 8:58 pm
Sanjay Kalra
Sanjay Kalra & Associates
Guarantor is as liable as the borrower.
Answered on 6/28/11, 4:51 pm
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