laibility of guarantor

It all depends on the guarantee bond, but seeing the  majority of the High Court decisions the answer must be NO. See United Commercial bank vs B.M.Mahadeba Babu AIR 1992 karnataka 294 and R.Lilabati's case AIR 1987 karnataka 2 and also the case of Raju Setty vs Bank of Baroda decided by the Kerela High Court as reported in ILR (1991) Kerela 3303. The suit will not be barred against the guarantor.

 It depends upon the guarantee bond you have executed. If in the bond it is specifically mentioned that the bond can be extended for any further time without your consent, it can be extended and you are bound by it. You cannot revoke it. If no such condition exists in the bond, any further extension does not bind you.You may also seek discharge of surity by variance in terms of contract under Sec 133 of Contract Act.

thanks for the information and decisions.

Mr. Assumi thank u for suggestion and could you plz provide any decisions of supreme court

mr assumi has given openion that it will depend on guarantee bond.the terms must be informed where you are responsible.against your will without your consent if anychange is made, it is not a rule of law and you are not bound by new contract.

during currency of the guarantee  the creditor must not deal with the principal debtor  behind the guarantee's back so as to make the guarantee more  onerous.the creditor can sue the surety without suing the principal debtor.(M S Amurdhan vs Ttamco's bank  AIR 1963 ker 746)