Legal Question in Banking Law in India
sir, i have a question ? shuold i withdraw my gurantee as a gurantor for educational loan as borrow is not in position to pay the loan amount?
Asked on 10/20/10, 7:52 pm
3 Answers from Attorneys
J. Radhakrishnan
independent Practice
you cannot now withdraw the guarantee for the loan availed by the borrower on your guarantee.
Answered on 10/20/10, 7:54 pm
Rashmi Bhatia Sangare
Private Practise
At a time when the principal borrower is not in a position to repay loan you cannot revoke your guarantee as it is an after thought.
Answered on 10/21/10, 12:15 am
Vishwa Arya
Arya & Co.
at this stage you cannot revoke the guarantee
Answered on 10/21/10, 10:34 am
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