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Author :
taylor
Posted On 21 May 2012 at 06:20
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there is a loan dispute.bank give loan to a person on a persons gurantee.whether the person is liable who give guarantee.signature is not obtained by bank of that guarantor.these are the facts somebody give me.i myself in doubt how can bank give without formality.
is there any similar query ever on lci platform.
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Expert :
Adv. Bharat Chugh
Posted On 21 May 2012 at 07:22
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Banks won't do something as reckless as that. Without a formal contract surety is not bound/no liability.
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Expert :
V R SHROFF
Posted On 21 May 2012 at 09:59
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u check bank loan Application.
I know bank passed loan on fake sign of guarantor , only photo obtained by tricks, sign in Capitol letters, but guarantor was made to pay, without any fault on his side.
Debtor is missing, or not available. Police is inactive.
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Expert :
ajay sethi
Posted On 21 May 2012 at 14:32
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you can call upon bank to produce copy of application made for loan , copy of agreement signed by gurantor .
you can alaways say that gurantor has not signed any documents . bank will have to prove that guarantee was given by you for loan
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Author :
taylor
Posted On 21 May 2012 at 14:36
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as agreed by experts i will do
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Expert :
SAINATH DEVALLA
Posted On 21 May 2012 at 18:49
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What is the meaning of a Gurantor without signatures?If really the bank has given the loan,then a nose would be tied to the bank manager'neck.
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Expert :
Shonee Kapoor
Posted On 21 May 2012 at 23:50
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This is hilarious and bank alone should be liable for their own foolishness.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
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Expert :
Amit Pateria
Posted On 23 May 2012 at 10:52
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Dear Author,
It is the well settled position of law that the liability of a gurantor co-exists with that of the borrower qua the Bank loan wherein the Bank is at the liberty to recover its dues either from guarentor or from borrower, or from both.
So far as your query goes, your only concern is that “signature is not obtained by bank of that guarantor” so the best practice would be to approach the concerned bank and verify the veracity of the facts that has been given to you by somebody.
Hope this helps.
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