surety - five people are surety holders
1 year ago
i have done a surety for ravikumar who died we five people are surety holders including his father all the people s property is attached with ravikumar 2 property is also attached ( one is 6.5 acre land) now ravikumar died and hi sfather paid 23lakhs and released one his property(ravikumar dad) and another property of ravikumar is aloc released(6.5 acre) now that chit fund people is demanding 12 lakhs from all other surety people what should be done now advice?
A.Dear Client
Your question is in bits and pieces and you need to share the complete detail to get a better answer. It is suggested that you meet up a lawyer with all the details and seek his/her advice on the matter. There is no clarity why the chit fund people are asking for 12 lacs or for what purpose the surety was given.
Your question is in bits and pieces and you need to share the complete detail to get a better answer. It is suggested that you meet up a lawyer with all the details and seek his/her advice on the matter. There is no clarity why the chit fund people are asking for 12 lacs or for what purpose the surety was given.
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A.Dear Client,
As you all were the surety holders therefore you were equally responsible in this. Therefore as the company went into chitfund so you are equally responsible for this and have to pay the customers back.
As you all were the surety holders therefore you were equally responsible in this. Therefore as the company went into chitfund so you are equally responsible for this and have to pay the customers back.
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