About 6 years ago a fellow colleague of mine persistantly begged me to sign as a guarantor for a personal loan he wanted to take for himself. I finally relented. He took the loan from State Bank of India. He later told me that he had squared off the loan with the bank. Thereafter he has even been dismissed from the services of the company. I am no more in contact with him.
Recently I have heard about attempts being made by State Bank of India to contact me regarding this loan. Is this loan time barred by the statute of limitations Act? Can I be forced to make payment of this over 6 year personal loan taken and enjoyed by someone else? Please advise me.