Surety bonds in superdari

Querist : Anonymous (Querist) 01 November 2011 This query is : Resolved
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

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Sankaranarayanan (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 sethi (Expert) 01 November 2011
agree with sankar . surety has to be a thrid party .

Nadeem Qureshi (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

Guest (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 Kapoor (Expert) 01 November 2011
I hope the enlightenment would have dawned.

Regards,

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

Shailesh Kr. Shah (Expert) 03 November 2011
All learned experts rightly said.

Satish Mishra (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.