Dear Sir/s,
I am a guarantor to a loan of my Nephew. A case is going on for recovery of the loan. Loan was taken from Gujarat's Co-operative bank which was later bought by a Multi State Co-operative bank. There have been severe negligence on part of the original bank as well as the new bank.
They have sued me in 2 courts for creating burden on my properties and similarly I have sued them in 2 courts against their negligence in my case as well as overall operations. They are under lot of pressure now and have invited us to settle for the original amount and have waived off all the interest of last 10+ years.
Since there is so much pressure on the bank to reduce NPA as well as if I go ahead with my cases against them, their negligence will become public and dent their image immensely. My question is that that is it possible that they may settle the case with me at an amount lesser than the original sum ?
