Legal Question in Civil Litigation in India

2 years back, a friend took a personal loan from a private bank with me being the guarantor for that loan. After paying the loan installments for a year,he went to US for further studies and probably started defaulting on his payments. Last month, the bank induced a hold on my funds in my savings account, although they were in conversation with my friend's father for a settlement. But early this month, the bank went ahead and liquidated the funds from my account towards that loan account.
Initially, my friend's father assured that he would pay up the dues as well as my money back within 10 days. But now he is not responding to my repeated calls now. probably he does not have the intent of paying up.
I am thinking of filing a civil suit against my friend and his father, for breach of trust and acts of malice resulting in financial and emotional stress. Can somebody advice on how to go about it, and if there are any implications or things that need to be taken care of

Asked on 12/18/09, 3:02 am

RAJIV GUPTA (Cell: +91 9811284735) [email protected]

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yes, you can file a suit against your friend for recovery of the money paid as a guarantor.

Answered on 12/18/09, 9:17 am

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