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Legal Guidance Needed: Undisclosed Guarantor and Chairman's Influence
05-Dec-2023 (In Recovery Law)
I guaranteed a small business loan for a relative, impacting my CIBIL score due to overdue payments from COVID losses. The bank didn't inform me when a different second guarantor signed, and there's no record of borrower relationship with the chairman. Seeking legal advice on my liability, concerned about possible intentional default and lack of effort in recovery due to the chairman's influence.
Well, it was the duty of the Bank to duly inform you regards how and when the second Guarantor came into picture! And, what you are talking about Chairman's influence, can you explain? As I didn't get you wholly, state more facts.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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