Legal Question in Business Law in India
corporate and business law
A stands surity for the good conduct of B who is employed by a bank on a monthly salary of rs 1600.three months afterwhen the financial position of bank detriorates ,Bagrees to accept the salary of rs 1500per month.Two months after, it is discovered that B has been misappropriating the money all through.Now what is the liability ofA
Asked on 3/18/09, 7:45 am
3 Answers from Attorneys
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
Re: corporate and business law
no academic questions
Answered on 3/19/09, 11:04 am
Pranav Desai
PD Legal & Associates
Re: corporate and business law
Bank can sue both the parties for recovery of money
Answered on 3/26/09, 12:52 pm
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: corporate and business law
The bank may sue both - the employee as well as the guarantor - for loss suffered because of misappropriation of funds.
Answered on 3/18/09, 1:51 pm
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