bad news for guaranter

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Supreme court of india has its recent verdict told that if the loanee is declared defaulter to repay the loan then his guaranter would be liable to repay the entire amount. Next time will you agree to be the guaranter for your friends loan be sure he is going to pay up the last EMI/penny. I think on hearing the same no one will go ahead to be guarantor. What is your opinion friends those who are from india and taking loan? pkc3000