Son become Response for died father
Querist :
Anonymous
(Querist) 20 October 2010
This query is : Resolved
Dear All Expers,
one my friend (A)father was worked in central GOVT, one of the (B)is co-worker bought a loan from indian bank 2 years before, Mr. A has signed Surity for 'B', now B' is not paid loan amount and still he is working in Central Govt, and Mr.A' was died past 6 month before and A' son C' got the job way of inheridence of father death, now indian bank is suit a file to the A' son's C' that you are surity of father signed document now indian bank file a complaint A' son's C, still now B' is live and working in Central Govt, i want this related judgment and citation
Devajyoti Barman
(Expert) 20 October 2010
It is the established principle of law that the creditor can not bind the surety unless it explored all the options of recovery from the borrower. Moreover the personal guarantee is not binding upon the legal heirs of the surety unless it was a secured guarantee.
pawan sharma
(Expert) 20 October 2010
only for that share which comes under his hand.
s.subramanian
(Expert) 20 October 2010
with the amendment of the Hindu succession Act in 2005,the doctirne of pious obligation has been derecognised. It is no more applicable in Indian laws and courts. Hence the son need not repay even if he inherits the property of his father. On the point of suretyship also,if the guarantee agreement is a personal guarantee it cannot be enforced against the son by the bank. It expires with the guarantor. I disagree with the view of Mr.Barman on the point of the liability of the surety. I opine that the liability of the surety is joint,several and co-extensive with that of the principal borrower. The bank cannot be asked to proceed against the principal borrower first and come to the surety later on. The bank can proceed against both of them simaltaneously. That is it is usually stated that the surety is the most favoured debtor.
aman kumar
(Expert) 20 October 2010
wee said ! S. s
Querist :
Anonymous
(Querist) 20 October 2010
Thanks all Experts
could you give any case law's and judgements for out citation
