My father is a retired govt employee who has stood as a guarantee for one of his friend along with 8 others when he was in service. And that friend has obsconded with the chit value of 5 lakhs. Since my father was a govt employee, he became an easy target for the recovery sharks and was give legal notice to pay the chit value of 5 Laks. I am not sure why the chit fund company did not care about the rest of 8 members and never bothered to file a compliant on the absconding person.
Now, a local court has passed a judgement asking my father to pay the 5 Lakh INR. Is there any chance if we file a counter appeal in district court ? What does the law state in this case ? Appreciate your feedback and suggestions.