India, Aug. 11 -- LUCKNOW The Lucknow bench of the Allahabad high court has held that a bank can recover loan dues from a guarantor after the principal borrower defaults, saying the creditor is not legally required to first exhaust its remedies against the main debtor before proceeding against the guarantor.

It ruled that the liability of a guarantor is co-extensive with that of the principal debtor and the creditor can proceed against either or both simultaneously.

A division bench of Justice Shekhar B Saraf and justice Abdhesh Kumar Chaudhary passed the judgement on August 6 while dismissing two writ petitions individually filed by Vineet Pandey and Anoop Kumar Mishra, who had stood as guarantors for loans taken by their colleague Vik...