A loan repayable in 36 monthly instalments by post dated cheques were given to borrower “B” on 01-04-2011 on the basis of guarantee of “G” given on same day. First 10 cheques were passed. Now four cheques of “B” was dishonoured and 22 cheques yet to be presented in bank as the date of cheque yet to come. Now Creditor “C” wants to invoke guarantee of G regarding only four dishonoured cheques and also wants to file summary suit against G the guarantor only on the basis of four dishounored cheques, in addition to complaint against borrower i.e. the drawer of cheque in section 138 N I Act. Whether it is possible and as per law. Any other remedy, so that guarantor should be involved in court proceeding without leaving right of presentment or getting encashed 22 posted cheques whenever their dated come ?
