negotiable instrument act

Dinesh Suryawanshi (Querist) 07 February 2010 This query is : Resolved
whether the borrower is also liable for issue process if the guarantor is paid loan amount in dischage of the liability of the borrower?

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Parveen Kr. Aggarwal (Expert) 07 February 2010
No. In case of cheque dishonour the borrower is not liable for the criminal liability if the cheque is drawn only by a guarantor on a bank account maintained by him.

Raj Kumar Makkad (Expert) 07 February 2010
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