securitization Act

Querist : Anonymous (Querist) 11 March 2011 This query is : Resolved
whether the property of Guarantor secured by secured creditor for the liability of borrower? or
whether secured creditor can proceed against guarantor under securitization Act?

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DEFENSE ADVOCATE.-firmaction@g (Expert) 12 March 2011
Yes the lender can go against all the securities.

bhagwat patil (Expert) 12 March 2011
Yes, Secured creditor can proceed against guarantor under securitization Act,but if the property of guarantor is mortgaged then to the extent of the value only lender can proceed,secondly if the amount of loan is increased after guarantee papers signed the guarantee lapses.

Chanchal Nag Chowdhury (Expert) 13 March 2011
YES. The bank can proceed against both.

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