Can the property of Guarantor be attached ?

By Accommodation Times News Services

Q. Can the property of Guarantor be attached ?

A. Yes, You can attach the Guarantor’s property as long as Bank has the charge on that property and such properties can be attached irrespective of belonging to he borrower or guarantor. What is required is property must be charged to the bank and while issuing notice of 60 days, you must ensure that borrower as well as guarantors are served with Sec.13 Notice, without exception.

 

Q. In certain cases, charged properties are sold or assigned by the borrower, in that case what is to be done ?





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