Unable to repay loan and guarantor has filed a case
Querist :
Anonymous
(Querist) 28 June 2023
This query is : Resolved
My father took a loan many years ago and now he is in custody since 8 years due to same bank's ongoing hearings of scam as he was a director at that bank. My father's brother was a guarantor of that loan and my father couldn't pay it because he is in custody for a case which is going on from 8 years and the people involved along withy father are not yet proven guilty and now guarantor is receiving notice to repay the loan so he has filed a case against my father, mother and the bank, we got official notice from court for hearing of this case. What should we do in this scenario?
Satya nand aggarwal
(Expert) 28 June 2023
Mr. Sudhir has rightly answered. He has got every right to file suit against the original borrower only to stop him form selling any property belonging to him.
Dr. J C Vashista
(Expert) 28 June 2023
The bank and guarantor are right on facts and law.
ashok kumar singh
(Expert) 28 June 2023
agreed with experts opinion, you may consult with you Learned Advocate in your given situation with appropriate facts for pursuing relief in terms of the available provisions of the Law.
Thanks
Ashok Kumar Singh,
Advocate
Querist :
Anonymous
(Querist) 28 June 2023
Say there is a bank called ABC , borrower was also a director there and personal loan was taken from same ABC bank, cases are filed on ABC bank for a fraud, and cases are going on since 8 years and borrower is also in prison since 8 years as he was a director even if he didn't do anything and no one is proven guilty till date.
Now there is no source of income for borrower for obvious reasons and his family that is me and my mother are also barely living a life with little money.
I agree gaurantor has filed case against borrower (my father) and my mother to protect himself but what can we do in this scenario, A suggestion for borrowers family would be of great help
Sudhir Kumar, Advocate
(Expert) 29 June 2023
Read whole story so far disclosed.
Please elaborate the fault of the guarantor anywhere.
bank has either recovered money from borrower or may be on the process.
T. Kalaiselvan, Advocate
(Expert) 29 June 2023
The guarantor has filed the suit agaisnt the principal borrower, as the borrower is still alive, the case will be maintainable only agaisnt the borrower and not agaisnt his legal heirs. You people are misjoinders to the case, hence you can file a petition to exonerate you from the case with costs to the guarantor as you are unnecessary party to the suit for the reasons taht the principal borrower is alive and the relief should be sought only agaisnt him and not with the legal heirs during his lifetime.
P. Venu
(Expert) 19 July 2023
Yes, borrower or his property alone is liable. After the lifetime of the borrower, the legal heirs are liable to the extent the property they had inherited.
