653+ Lawyers are online 
bank recovering money from guarantor and not from loanee.
17-Jan-2023 (In Recovery Law)
dear sir i was guarantor to one personal loan from co op bank.loanee defaulated payment bank proceed for recovary to registar office .order is pass to recover loan due from guarantor because guarantor is gove servant. loanee is available but bank is not recovering money because they have easy option that is from guarantor. what is temady for gaueantor.how he overcome from this problem. loane know everything but he just ignore the guarantor. suggest what to do.
Considering facts stated by you, Proceedings can be initiated before Debt Recovery Tribunal. However, facts given by you are insufficient. All the documents are required to be perused. It is also necessary to verify proceeding by bank against the borrower.
Helpful?
35+
35+
Adv. Dhiraj Ramsukh Jethliya
Aurangabad, Maharashtra | 25+ Answers
CONTACT NOW
This seems to be quiet a common thing we see these days. Now,having that said I would like to have more information on this matter hence would like to hear more on this from youso we can get to some kind of a closure. Hence, please find my email and act accordingly.
Helpful?
48+
48+
Adv. Krishnan Balakrishnan Nair
Pune | 100+ Answers
CONTACT NOW
Sir
the bank has not done any illegality in proceeding against guarantor unless they have directly proceeded against you only.
If the bank has not taken proper legal steps first against borrower before proceeding against you, then you have to challenge this action of the bank. This challenge can be in the form of writ petition in High Court alleging malpractice by the concerned bank.
You have not mentioned as to what proceeding is filed before which forum by the bank against you.
It is important to know the forum as the Acts applicable to every forum are different. e.g. S.101 or S.96 of Maharashtra Coop Societies Act are for recovery of dues. Then DRT is special forum for recovery of dues to the bank. The remedies available to you in the given situation are different under these Acts.
Besides your challenge to action of the bank against you, you have remedy to sue the borrower for the recovery of entire amount which bank may have recovered from you in respect of loan transaction. Therefore you have to specify entire details elloboratively. In the mean time you may decide your next course of action.
Regards.
the bank has not done any illegality in proceeding against guarantor unless they have directly proceeded against you only.
If the bank has not taken proper legal steps first against borrower before proceeding against you, then you have to challenge this action of the bank. This challenge can be in the form of writ petition in High Court alleging malpractice by the concerned bank.
You have not mentioned as to what proceeding is filed before which forum by the bank against you.
It is important to know the forum as the Acts applicable to every forum are different. e.g. S.101 or S.96 of Maharashtra Coop Societies Act are for recovery of dues. Then DRT is special forum for recovery of dues to the bank. The remedies available to you in the given situation are different under these Acts.
Besides your challenge to action of the bank against you, you have remedy to sue the borrower for the recovery of entire amount which bank may have recovered from you in respect of loan transaction. Therefore you have to specify entire details elloboratively. In the mean time you may decide your next course of action.
Regards.
Helpful?
32+
32+
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Recovery lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
