464+ Lawyers are online 
what is the liability of guarantor in corporate loan
01-May-2023 (In Recovery Law)
Is there a criminal offence on the part of the guarantor if he/she is not able to repay a default on a corporate loan?
Yes, the property of the guarantor can be legally attached to recover the pending dues. Recovery proceeding might be initiated for recovering the pending amount with interest. The original terms and conditions of the document signed would be required to referred to for seeking resolution or the procedures that specifies recovery of defaulter loan.
Helpful?
163+
163+
Adv. Siddhant Sharma
Delhi | 200+ Answers
Chat
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."
