legallaw
11 April 2015 at 21:58
n 1998 One of My friend Has taken Loan From District Co-operative central bank Andhra Pradesh For purchase of computers Paid instalment for 6 month Then the computer institute is closed because of loss
Actually for the loan some other person has given gaurantee and taken 75% of loan money for personal use now the loan is on the name of my friend (computer institute )and bank people are forcing to pay the loan amount recently they approached the friend asked to pay the 1.90 is principle amount + 8 lacs interest is there any chance of intrest waiver or any way to proceed with gaurantor
kindly give us the solution
Co-operative bank loan
n 1998 One of My friend Has taken Loan From District Co-operative central bank Andhra Pradesh For purchase of computers Paid instalment for 6 month Then the computer institute is closed because of loss
Actually for the loan some other person has given gaurantee and taken 75% of loan money for personal use now the loan is on the name of my friend (computer institute )and bank people are forcing to pay the loan amount recently they approached the friend asked to pay the 1.90 is principle amount + 8 lacs interest is there any chance of intrest waiver or any way to proceed with gaurantor
kindly give us the solution