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I was appointed as guarantor but debtor settled in abroad
02-Mar-2023 (In Recovery Law)
My friend has helped 1 person from Goa being a guaranteeing to him in bank and now bank has sent a recovery being a co debtor to my friend now this burrower of money from Goa has been settled abroad in Europe under the citizenship of Portuguese nationality and my friend even does not his address where he ( a burrower ) has been settled.
If your friend has executed any guarantee Deed/Documents then he is liable to pay the Loan amount & bank have right to file a Civil Suit for recovery against your friend as the liability of principal debtor is coextensive with that of guarantor. Since principal debtor has absconded the bank will proceed against guarantor for recovery of the amount of loan.
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Adv. Siddhant Sharma
Delhi | 200+ Answers
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