Back in 2002 me and two other people stood as a guarantor for an ex-colleague of mine with Sriram Chit Funds in Bangalore. I dont even remember the amount but thik it was around 50k. On Friday I got a letter from the Civil Court asking to come for a case of me vs Sriram Chit Funds. At first I was not sure on what this was and later I realized it could be as I stood guarantor for my ex-colleague. Right now I have no contact with this ex-colleague and am not sure even if he is in Bangalore.
My mother is the one who accepted the letter. Currently I am not sure on what to do. Should I go to the court? Or just ignore the letter. What can happen if I dont go to court?
It is a serious matter, because it appears that the other side has got a decree against you and they have filed an execution petition for execution of the judgement and decree. MY ADVICE IS TO IMMEDIAELY GET THECOPY OF JUDGEMENT PASSED IN THE SAID TITLE SUIT AND CONSULT A GOOD LAWYER.