Since in terms of Section 128 of the Indian Contract Act, 1872, the liability of the surety is coextensive with that of the principal debtor, when a default is made in making repayment by the principal debtor, the banker will be able to proceed against the guarantor / surety even without exhausting the remedies against the principal debtor.
Since the summer of 2021, the extraordinary increase in energy costs has gradually become the most important factor holding back motor vehicle output (Slide 7, left-hand side). Demand-side factors, by contrast, continue to support production. More generally, ECB staff analysis shows that a persistent increase in energy prices significantly and persistently lowers potential output across euro area countries (Slide 7, right-hand chart).