Surety to bank loan given - beneficiary get defaulted on repayment
Kiran Kumar
(Querist) 06 August 2014
This query is : Resolved
Sir,
My name is kiran kumar, I am from Hyderabad (Telangana State), India. My mother who earlier worked as Jr.Asst in a Govt. Office gave a surety to her lady colleague for a bank loan of Rs.1 lakh. It was the matter of 2009. Now my mother got retired in 2012 and have got settled her pensionary benefits. Recently, when my mother tried to draw her monthly pension from the bank account, the amount was not withdrawn and directed her to visit the bank. When approached bank, they said that the lady colleague of my mother, to whom my mother gave surety has defaulted in repaying of loan amount and since then blocking my mother's pension account. The lady colleague of my mother is making excuses and troubling her. The bank authorities are regularly withholding the amount, depriving my mother from having her rightful pension amount. The bank authorities also say that a decree is issued in my mother's name to deduct the loan amount from my mother since she was the surety.
Please suggest us a way out of this, so that my mother can have her right in drawing her pension.
Thanking you sir,
Kiran.
9701826959
ajay sethi
(Expert) 06 August 2014
your mother was guarantor of the loan . since principal debtor defaulted bank has obtained decree against you . your mother can file case against the colleague for recovery of amount debited from her account
Kumar Doab
(Expert) 06 August 2014
You need to approach a lawyer AS AP.
Did your mother get any notice from bank, summons from court?
Did the bank try to recover from borrower?
Provide the full income details of the borrower to the bank.
Submit in writing under proper acknowledgment to BM, Nodal Officer, Chairman of the bank, narrating the feedback given by the bank and demand copy of the decree to be supplied to you say within next 7 days by redg. post.
Rajendra K Goyal
(Expert) 06 August 2014
On default of the borrower the outstanding loan is to be recovered from borrower or guarantor as liability of borrower and guarantor is jointly and severely.
Your mother should provide the details of all the accounts, property, salary account of principal borrower and ask the Bank to attach the same.
If the pension is held without issuing notice or decree the matter can be taken accordingly.
Ask the details from the Bank through RTI if it is a Govt. Bank.
Full pension can not be adjusted towards loan repayment. If so, issue notice to Bank.
Kiran Kumar
(Querist) 07 August 2014
Thanx a lot to the responses sir. I would proceed as suggested.
Guest
(Expert) 07 August 2014
Well advised.
Sudhir Kumar, Advocate
(Expert) 21 October 2014
you said that
"The bank authorities also say that a decree is issued in my mother's name to deduct the loan amount from my mother since she was the surety. "
either bank officials are telling lie or you are hiding facts.
There cannot be any decree against your mother unless there was a civil suit and for which she might have got notice.
