The Supreme Court of India has held that under Section 133 of the Indian Contract Act, 1872, a surety is not absolutely discharged from liability if the contract between the creditor and the principal debtor is varied without the surety’s consent. Instead, the surety is only discharged regarding transactions occurring after such variance, while remaining
Surety Discharged Only for Transactions Subsequent to Contract Variance; Liability for Original Amount Remains: Supreme Court
