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S. TALAPATRA
Sanjib Debbarma – Appellant
Versus
State of Tripura & 6 Others – Respondent
JUDGMENT
S. Talapatra, J. - Heard Mr. DR Choudhury, learned senior counsel assisted by Mr. S Sarkar, learned counsel appearing for the petitioner as well as Mr. PK Debnath, learned counsel appearing for the respondent No.2, Tripura Schedule Castes Cooperative Development Corporation Ltd., Agartala. Also heard Mr. D Bhattacharjee, learned GA assisted by Mr. K De, learned Addl. GA appearing for the respondents No. 1, 3, 4, 5 & 6. Despite due notice from this court, none appears for the respondent No.7.
1. The relevant facts which led to filing of this writ petition may be encapsulated at the outset. The petitioner is a Lower Division Clerk (LDC, for short) employed in the Central Training Institute, Sepahijala, Tripura. There is no dispute that when Smt. Rekha Das, the respondent No.7 herein, took a loan from the respondent No.2, the petitioner stood as guarantor against the said loan and the letter of guarantee was duly executed and that is available with the reply filed by the respondent No.2 (Annexure-H to the said reply). The letter of guarantee provides inter alia the following terms and conditions which were agreed by the respondent No.2 and the petitioner:
1. That, the guarantee
A guarantor's liability is co-terminus with that of the borrower, allowing lenders to pursue recovery from either party as necessary, even if not all options against the borrower have been exhausted.
A guarantor's liability is co-extensive with the principal debtor, and the creditor can pursue recovery against the guarantor without exhausting the borrower's assets first.
The liability of a guarantor is co-extensive with that of the principal borrower, allowing lenders to proceed against the guarantor's property in case of default.
The court reaffirmed that the liability of a guarantor is equivalent to that of the principal debtor, thus allowing actions against the guarantor without first proceeding against the debtor.
The guarantor's liability is co-extensive with that of the principal debtor under Section 128 of the Indian Contract Act, and the guarantor's liability is immediate and not deferred until the credito....
Sureties remain liable for debts even if terminal benefits are paid to legal heirs; creditor can recover dues from either principal debtor or sureties.
A guarantor's repayment obligation can be structured into manageable installments upon agreement with creditors.
The court ruled that the respondents were not legally obligated to recover the loan amount from the guarantor's salary, dismissing the writ petition.
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