Dear Sirs, I request you to kindly suggest me the following :
In order to get a personal loan from Co-operative Bank for my friend, I stood as a surety in the year 1997. He availed the loan of Rs.25,000/-. Due to my official transfer, I could not approach him for the proper repayment of loan. The principal debtor had not repaid the loan. Finally, the Co-operative Bank authority, got a decree from the Court of Assistant Registrar, Co-operative Society, Bangalore along with court attachment of my salary.
Finally, the principal debtor loan amount ( along with interest ) Rs.72,500/- was deducted from my salary.
Meanwhile, the principle debtor is alive, and several times, I approached him to repay the amount - what it was deducted from my salary. He knows that his loan was closed by me as I stood as surety. I am getting mental torture that how to recover the amount from the principle debtor ? In what way I can recover the amount ? Shall I make an application/representation to the Court of Assistant Registrar ?
Friendly, I stood as a surety but the burden is on me.
I request you to kindly suggest me in what way I have to recover the amount.
Thanking you,
Yours truly,
( D.Dakshina Murthy ).
