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Surety bonds in superdari

This query is : Resolved 
 


Querist : Anonymous (Querist)
01 November 2011

Hello Dear Experts,

PL TELL WHETHER A PERSON CAN STAND SURETY TO RELEASE HIS OWN VEHICLE ON SUPERDARI BY SUBMITTING HIS OWN PROPERTY DOCUMENTS. IF YAS WHETHER ANY CASE LAW RELATING TO THIS.


REGARDS


sankar narayanan Online (Expert)
01 November 2011

we need the clear query . you confuse between surety and collateral .
Surety means a guarantor of payment or performance if another fails to pay or perform. They should be the third person

ajay sethiOnline (Expert)
01 November 2011

agree with sankar . surety has to be a thrid party .

Nadeem QureshiOnline (Expert)
01 November 2011

the seurty always third party but if the magistrate/RTO mentioned in his order regarding personal seurty then owner's other property may be surety otherwise not.



Guest (Expert)
01 November 2011

yes i do agree with Adv. Sankar

Advocate Sachdev Bishnoi (Expert)
01 November 2011

Agree with Mr, Shankar as the surety is always a third person who makes sure that as specified in the Surety bond that he will pay the amount such and such to the Government if the superdar does not follow the orders of the court and this is only the guarantee the surety gives to the court and how the same person can say for himself as representing himself as the guarantor of his own vehicle

Shonee KapoorOnline (Expert)
01 November 2011

I hope the enlightenment would have dawned.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

Shailesh Kr. ShahOnline (Expert)
03 November 2011

All learned experts rightly said.

Satish MishraOnline (Expert)
30 April 2020

It is always a third party, if the person himself gives the surety then it is called indemnity bond. Hope the confusion is clear of latter from former.

Rajendra K Goyal Online (Expert)
30 April 2020

Agree, surety is third person.

Raj Kumar MakkadOnline (Expert)
30 April 2020

what led to address a ded query since 2011?



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