Legal Question in Banking Law in India
Question . 1. Can a SUMMARY SUIT be filed against only the guarantor for the sum, not paid by the Original borrower. Question 2. A notice dated 27.04.2009 was given to guarantor invoking guarantee and suit is being filed in September 2009, so let me know that notice dated 27.04.2009 is sufficient or another notice is required for filing the suit against the guarantor.
Asked on 9/07/09, 5:54 am
2 Answers from Attorneys
you have to made party to both the original borrower and guarantor.
Answered on 9/07/09, 6:01 am
J. Radhakrishnan
independent Practice
If there is a promissory note executed by the guarantor or if he is the acceptor of a Bill of exchange, summary suit can be filed against the guarantor alone. It hardly matters for filing the suit in September 2009 as to when the notice before suit was issued.
Answered on 9/07/09, 8:29 am
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