Find borrower by guaranor. what to do now?

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Querist : Anonymous (Querist)
29 January 2019

My father take guarantee for a home loan. The borrower ran away, now he is missing. We are fighting case in court and DBT for 3 years. He never attend the court system or any court date. We are trying to find himfor a long time. We get information about him and his new staying place. But now we don’t know that 1.How to catch him? 2. What is the right way to arrest him? 4.How get legal arrest warrant against the defaulter? We also have a fear that he again run and we unable to catch him again. Because few years ago, in starting we arrested him by local police, but they not give us anything in writing and leave him to take some money. Now need a perfect legal way to quite as guarantor after he get arrest, because he have a hug property to pay the loan amount. Give us the advice, our family is in a very big pressure.

K.K.Ganguly (Expert)
Click to Talk
30 January 2019

1. Guarantor steps in to the shoes of the borower in case of default in repaying the loan and the loan account turns in to NPA account and also when then Bank initiates SARFAESI proceeding.

2. This is the reason why it is advised not to be an unprotected guarantor for third party Bank loan.

3. Therev can be no arrest of the Borrower for not paying the loan since it is not a criminal offence.

4. You shall have to contest the matter before the DRT to find out faults of the Bank in initiating tyhe SARFAESI proceeding and get temporary relief.

Dr J C Vashista (Expert)
31 January 2019

Well advised by expert Mr. K K Ganguly, I agree and appreciate.
You have no escape to face trial before DRT and its consequence.
Consult your lawyer who is an able, competent and intelligent enough to analyse, guide and proceed as required, if you have not lost your faith in him/ her.

Querist : Anonymous (Querist)
02 February 2019

Thanks for all of your responses dear Sir.
πŸ‘‰πŸ»1. Sir, Is family detail required of the borrower in loan docs? because guarantor family details available but the borrower family details are not mentioned in loan docs.
πŸ‘‰πŸ»2. Is bank give big loan then the borrower's provide property? because of the property documents which are submitted is of 7lac but bank gave the loan of 12lac.
πŸ‘‰πŸ»3. Is borrower take original property paper from the bank without the bank permission? because the bank says to the guarantor that the borrower takes his property docs.
πŸ‘‰πŸ»4. Is borrower sell the mortgaged property without the bank permission? because in our loan the borrower sold the property and ran away?
πŸ‘†πŸ»from all above of them is there any point which can help us to be and give us permanently relief Sir.

SHIRISH PAWAR, 7738990900 (Expert)
02 February 2019

Family details of borrower is not required for loan documents. Bank cannot give loan more than property value in fact generally bank gives much lower value loan than property value. Bank cannot handover the property documents to borrower and borrower cannot sale the property during subsistence of loan and mortgage. Appoint advocate and file case against bank.If you are in Mumbai you can contact me.

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