NOTICE TO A GUARANTOR OF DEFAULT
Notice date: 2 April 2026
To Naina Sharma, Sector 21, Panchkula.
From ABC Bank Ltd, Sector 17, Chandigarh. Borrower: Aarav Sharma, Sector 21, Panchkula. Loan: HL-2026-118; facility amount ₹90,00,000 (Rupees Ninety Lakh only). Guarantee: Guarantee dated 10 June 2024.
BORROWER DEFAULT
Type: Scheduled instalments unpaid. Details: EMIs due 1 July, 1 August and 1 September 2026 remain unpaid.. Prior/relevant borrower demand date: 1 April 2026.
AMOUNTS
Principal/outstanding stated: ₹72,00,000 (Rupees Seventy Two Lakh only). Current overdue/demand: ₹3,50,000 (Rupees Three Lakh Fifty Thousand only). Guarantee basis: Lender relies on guarantee according to its written terms and applicable law.
DEMAND / RESPONSE
Respond/pay as required under the guarantee by 3 April 2026. Response route: Write to Recovery Manager at lender address quoting loan reference..
This notice relies on the existing written guarantee and does not enlarge it. Account statements and the guarantee terms remain the basis for the amount lawfully recoverable.
LEGAL BASIS
A guarantor's liability is co-extensive with the borrower's (section 128 of the Indian Contract Act, 1872). A guarantee that covers a series of transactions is a continuing guarantee (section 129), which the guarantor may revoke as to future transactions by notice to the lender (section 130). A variance in the loan terms made without the guarantor's consent, a release of the borrower, extra time given to the borrower, or the loss of the security discharges the guarantor wholly or in part (sections 133, 134, 135, 139 and 141). On a secured home loan, section 13(11) of the SARFAESI Act, 2002 lets the lender proceed against the guarantor without first taking any of the enforcement measures against the property.
PERSONAL DATA NOTICE
This notice is given under the Digital Personal Data Protection Act, 2023.
Personal data in this document is collected only to notify the guarantor of the stated borrower default and administer the lender's existing guarantee rights, communicate about that purpose, verify expressly supplied lending, identity and property information, and retain an evidentiary transaction record.
The record will be held by Kagaznama and may be shared only with the borrower, co-borrower, guarantor, lender, authorised professional, registering or revenue authority, Central Registry/CERSAI-related service, insurer or other person directly involved in the stated credit or security transaction.
If the transaction is withdrawn, refused or cancelled, personal data will be retained for 90 days and then erased. If the transaction proceeds, the record will be retained for the loan/security term plus 12 months, except where a named statutory or regulatory record-retention period requires longer retention.