Legal Question in Credit and Debt Law in India
I have signed a personal guarantee for term loan from bank.The current amount after adjusting all the securities is 45 lacs.The case is in DRT and DRT may issue a decree for recovery very soon.My question is that in case of my demise can the bank attach the personal property of my parents as they are my only family.Is there a case law to support the answer.
Asked on 1/06/12, 7:45 am
1 Answer from Attorneys
www.lawconcern.com S.Seshadri
www.lawconcern.com
Bank can proceed against your share in any property. Better to consult a lawyer with all details for proper course of action. [email protected]
Answered on 2/09/12, 4:19 am
Related Questions & Answers
-
Can they take my home in personal loans defaulter? Asked 12/18/11, 10:02 pm in India Credit, Debt and Collections Law
-
Dear sir, i have a parsonal loan from bajaj finence for Rs. 21000/- only in... Asked 12/05/11, 3:07 am in India Credit, Debt and Collections Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
