Repayment of loan after death of guaranteer
Ashraf Ali khan
(Querist) 20 April 2016
This query is : Resolved
Respected sir. My father was personal guaranteer to loan for a factory which underwent loss & finally shut. We have not inherited anything from him & my father passed away about 17y back. Now the financial institution is harassing us with recovery & now court has issued summons & decree against us. Please let us know how can we defend this action as we have not inherited even a single paisa & whatever we have is self earned. Thanks & good wishes,
Adv. Yogen Kakade
(Expert) 20 April 2016
Whether the financial institution has issued any notice? If yes..Did you reply the notice?
Ashraf Ali khan
(Querist) 20 April 2016
Yes sir we have replied to the notice & also in lower court we have clearly mentioned
Rajendra K Goyal
(Expert) 20 April 2016
On receipt of court notice it seems you did not represented properly. Appear before the court and bring all facts to the knowledge of the court.
Kumar Doab
(Expert) 20 April 2016
Decree has been issued.
Now show all docs on record to an able counsel specializing in such/banking/DRT/civil matters and give inputs for a considered opinion..
Devajyoti Barman
(Expert) 21 April 2016
Without seeing the judgment and decree no further advice can be given on such scant information.
Personal guarantee can not be enforced by attachment of immovable property on death of the guarantor.
Devajyoti Barman
(Expert) 21 April 2016
Without seeing the judgment and decree no further advice can be given on such scant information.
Personal guarantee can not be enforced by attachment of immovable property on death of the guarantor.
P. Venu
(Expert) 23 April 2016
You are liability is restricted to the property inherited from your Late Father. Further suggestion is possible only on the basis of the contents of the Judgment and decree.