https://www.taxtmi.com/caselaws?id=184202 A creditor is not required to exhaust remedies against the principal borrower or secured assets before proceeding against the guarantor, because the surety's liability is co-extensive with that of the principal debtor unless the contract provides otherwise. The creditor may pursue the borrower and guarantor in parallel, and the doctrine of election does not impose a prior-remedy requirement. On that basis, supervisory interference under Article 227 to stay proceedings before the Debts Recovery Tribunal was inconsistent with the settled principle on surety liability and was not justified. en-us Tue, 18 Aug 2009 00:00:00 +0530 Sat, 14 Jul 2018 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184202 A creditor is not required to exhaust remedies against the principal borrower or secured assets before proceeding against the guarantor, because the surety's liability is co-extensive with that of the principal debtor unless the contract provides otherwise. The creditor may pursue the borrower and guarantor in parallel, and the doctrine of election does not impose a prior-remedy requirement. On that basis, supervisory interference under Article 227 to stay proceedings before the Debts Recovery Tribunal was inconsistent with the settled principle on surety liability and was not justified. Case-Laws Indian Laws Tue, 18 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184202