can corporate guarantor release his security money while matter pending before DRT?
suggest please any Judgement
The discharge of a guarantor (except on fulfilment of his undertaking) is generally brought about by the conduct of the creditor who by some act or omission, inconsistent with the rights of the guarantor, relieves the latter wholly or partially from liability under his guarantee.
If the matter is subjudice and the bank/NBFC initiated action under SARFAESI act and the borrower has approached DRT, then it is subjudice, therefore the guarantor even if corporate, cannot release the security without the consent of the bank/creditor
