Liability of Guarantor in case of Borrower is left out

VIJAY KUMAR GUPTA (Querist) 05 January 2011 This query is : Resolved
one of my relative took a property loan from PNB before 4 to 5 years back and now he left out with his complete family and found that he took loan from more than 10 bankers on same property. Recently i came to know i am one of the guarantor in that loan while i am in doubt for the same as I visit only one time in that branch when my mother availed HOME loan facility but i never provided my documents as well as my photograph. But i was guarantor in my mothers home loan but it may be possible that manager has taken my signature on his loan document also. So what should i do in case as i did not receive any letter from bank except phone call that i am guarantor in his loan.

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Guest (Expert) 05 January 2011
the bank can trace you and file a criminal complaint also. better you close you cell phone no. and get new one. in the mean time search for the borrower and advise him to pay the debts of bank

Raj Kumar Makkad (Expert) 05 January 2011
Mr. Gupta! The way told by Ganesan dont seem as legal and practical. If bank has shown or told you as gurantor of your relative then go to bank and see personally or with your lawyer all those documents which are told as your guarantee over the said loan. Once you personally see those then think your defence. You cant take the ground as told in your query because you are an educated person and it is not expected that you signed some papers which do not belong to you or your mother.

Advocate Bhartesh goyal (Expert) 05 January 2011
Yes,Follow the advice of Mr. makkad.

SAANJAAY GUPTAA (Expert) 06 January 2011
agree with Mr.Makkad

Kirti Kar Tripathi (Expert) 06 January 2011
I am also of the views as expressed by Mr. Makkad.

Amit Minocha (Expert) 06 January 2011
Send a letter / legal notice / RTI to bank seeking copy of the entire loan documents , if the signatures are yours and the form is filled up you are liable to pay back alongwith the borrower. Cannot lay such excuses now.

Ajay Bansal (Expert) 07 January 2011
If any loan in question's instalment has not be paid by anyone from last three years, then loan has become time-barred and then Bank can not do anythging against you as well as lonee.

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