Recovery of loan after demise of guarantor
Ashraf Ali khan
(Querist) 30 January 2014
This query is : Resolved
Respected sir/sirs, my father started a factory & procured loan from ksfc .He was given loan on personal guarantee & he did not have anything to pledge. We have not inherited anything from him. Now the case is gone against us in lower & high court stating to be recovered from his children. We are neither guarantor nor inherited anything whatsoever.. how do we defend this action & what is the solution. Please help & give your most valuable advise. Thanx
Ashraf Ali khan
(Querist) 30 January 2014
Respected sir/sirs; Please let me know the following facts. My father procured loan from KSFC to start factory. He was given loan on personal guarante & he din't have anything to pledge. After his demise we are I mean sons are dragged into this case when we have not inherited anything nor we are guaranteers in this. unfortunately we lost the case in lower & high court. Now what we do to defend as our property is self aquired & nothing from parents. please help to find solution. Thanks a million.
Rajendra K Goyal
(Expert) 30 January 2014
Repeated query:
Repeated query:
http://www.lawyersclubindia.com/experts/Recovery-of-loan-after-demise-of-the-borrower-450506.asp#.UuoJNLSLq_I
ajay sethi
(Expert) 30 January 2014
repeated query
