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Supreme Court of India (Division Bench (DB)- Two Judge)
CENTRAL BANK OF INDIA Vs. C. L. VIMALA & ORS.

Appeal (Civil), 4043 of 2015, Judgment Date: Apr 28, 2015

it is the prerogative of the Creditor alone whether he would move against the principal debtor first or the surety, to realize the loan amount. “Therefore, the creditor has a right to obtain a decree against the surety and the principal debtor. The surety has no right to restrain execution of the decree against him until the creditor has exhausted his remedy against the principal debtor Full Judgment

Tags: Auction Guarantor/ Surety Lok Adalat