dear sir,
A builder as a gurantor got sanction a loan on unfinished/incomplete property with the connivance of bank/loan officials. Monthly EMI being paid to the bank two months. Now the builder/gurantor not completing the unfinished work. while the bank officials pressing and issued the notice for non payment of EMI.
While the builder who is also a gurantor gave assurance to the borrower in presence of loan official at the time of sanction the loan that he will complete the unfinished work of the house earliest as possible but now he is denying to do so.
So please suggest what steps to be taken by the borrower at this situation.
regards,
BHUPENDRA
