A loan repayable in 36 monthly instalments by post dated cheques were given to borrower “B” on 01-04-2011 on the basis of guarantee of “G” given on same day. Now cheques of “B” is being dishonoured. Now Creditor “C” wants to invoke guarantee of G. And C wants to invoke Guarantee regarding only dishonoured cheques i.e. overdue amount, and not of whole amount due on today. Whether it is possible and if yes/no, Whether in spite of invoking guarantee, C is entitled to get encashed the remaining post dated cheques of B on their due dates.
