Kolkata | 18 Mar, 2022 (8 months, 3 weeks ago)

Property Law

Business loan of Rs. 33 Lakhs from bank (overdraft facility

We are three brothers. My father has taken business loan of Rs. 33 Lakhs from bank (overdraft facility) by keeping 3 BHK flat as security . The flat is in the name of we three brothers and we are the GUARANTORS. What will happen if father is unable to pay loan. What will be the consequent effect on me. How to safeguard myself? Other 2 brothers are married and both have 2 childrens. I also have 2 minor Childrens.
Answers
19 Mar, 2022 | 13:51

Give me details information about the matter then we will discuss your case
You can call me for advise on
9359867870


18 Mar, 2022 | 23:41

What are the actions that the bank has taken against you till date ?
However, I'll provide you certain legal suggestions, but for that i need to ask certain questions from you. For any further assistance, feel free to contact me on my e-mail "shubhampabbiadv@gmail.com"

regards,
Shubham Pabbi & Associates


18 Mar, 2022 | 23:37

Guarantors are liable for bank debt in case borrower is unable to pay of the loan.
If your father is unable to pay the business loan, bank will take ownership of the 3 BHK flat and auction it.
For consultation please write to me at advocatekunalseth@gmail.com


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