Guarantor in npa personal loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 January 2014
I am no. 1 guarantor in a personal loan of Rs. 25000/- and with interest it become around Rs. 50000/-. I have Rs.450000/- FD in same bank. Now bank hold my fund telling me personal loan in which I am guarantor is NPA account.
Please help to know whether any co operative bank or any bank can hold the fund of guarantor without taking any legal action against NPA borrower. Please give me references to withdraw my money.
Please help to know whether any co operative bank or any bank can hold the fund of guarantor without taking any legal action against NPA borrower. Please give me references to withdraw my money.
Nikhil Kaushik
(Expert)
10 January 2014
see if this helps you https://www.business-standard.com/article/pf/bank-does-not-have-lien-over-the-guarantor-s-funds-111091500091_1.html
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