I am guarantor for a personal loan now borrower is absconding and I am bearing his EMI's. Tried to finding him but he is absconding, can I make a police complaint against the borrower?
If yes ,then it should be under what pretext?
Thanks for the reply....But the one question comes here..since the borrower was not showing up for work he has been terminated by the company and the lender is the cooperative employee bank.
So they have simply caught me as a guarantor .
And this borrower who has property too in his name simply doing other job in other company...so he is not like a bankrupt or not in position to pay but he doesn't want to pay...
Anything I can do?
Plz suggest apart from paying his EMI.
Like lodge a fraud case or any other case against the borrower to bring me the justice.