My mother (aged 59, widowed housewife, now has no personal income) has 2 properties. one inherited and one self acquired. She is guarantor in the family business and has pledged one property (in Mumbai, inherited) as collateral againt OD/CC facility. The other property (in village, self acquired) is free from any bank lien.
Family business is on verge of going bankrupt and she may be called upon to pay as guarantor.
My questions to the experts,
1) While the pledged property may be attached by bank under SARFAESI, can the village property be attached also ?
2) Can bank claim on her for amount more than value of Mumbai property ?
3) Who is liable to bear Capital Gain tax on the sale under SARFAESI ?
4) What civil / criminal action can she be liable to face in case she cannot pay as guarantor ?
In anticipation of early response.