Legal Question in Banking Law in India
whether a person who has given only a gauranntee for due payment of loan without creating a mortgage or pledge, would be a borrower ; as defined in clause (f) of sec.2 of sarfesi act?
Asked on 2/03/12, 10:08 pm
1 Answer from Attorneys
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
a guarantor is also liable for the repayment of loan in case the borrower is unable to repay the same.
Answered on 2/05/12, 9:37 am
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