can a guarantor is liable for paying loan if the principal debtor is absconded?
Here the full details of case:
> A is the principal debtor anb creditor is Co-op society of a bank, the creditor has got surety for the loan amount from B & C.
> the loan is sanctioned on 2005 and not even a single repayment through A' s salary is made till 2010, after 2010 A's absconded.
>C has already got retired and he doesnt pay any amount on surety.
> now B is retired just a day before but the final settelement has been stopped because of the surety he has signed and the society has imposing him to pay full amount what the principal debtor has got as a loan, the members of the society are saying that we send a legal notice regarding this issue but we dint even get a single notice or intimation regarding this issue.
>and my question is
if we dint get prior notice , how can we move further?
not even a single repayment is made from salary of principal debtor whn he is in service(2005-2010), how B is liable to pay the amount fully?
If B & C are joint sureties how only b can pay the full amount? wat about C?
B doesnt get a single notice from society or even court, but they are saying we have an acknowledgement copy of receiving and the acknowledgement copy is in some other name.
B doesnt get single notice about the surety of payment when he is in service but on retirement the payment has been stopped.
how can we protect B from this case?
