Loan

Prateek (Querist) 04 July 2017 This query is : Resolved
If borrower has borrowed money by submitting his property as a security and there is guarantor also. So first the money should be recovered from the security or the guarantor any relevant case law related to this.

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Kumar Doab (Expert) 04 July 2017
The agreement might state; jointly or severely...............
What is in the agreement.

It is deemed that lender shall try to recover from borrower.

The counsel shall chose the citations.

Rajendra K Goyal (Expert) 04 July 2017
Borrower and guarantor are equally liable, in case of default of payment.

Sudhir Kumar, Advocate (Expert) 05 July 2017
how are you connected to the deal

Kumar Doab (Expert) 05 July 2017
The lender may place on record that the effort to approach/ recover from borrower failed.

Citations shall be chosen by local counsel a very able local senior counsel specializing in such/civil matters for a considered opinion,that has examined case file.

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