Guarantee by directors
This query is : Resolved
26 August 2011
If Directors of a pvt. ltd. company mortgage their personal property to the bank for availing a Loan. Will it effect any other provisions of Companies Act, 1956. Please suggest.
02 September 2011
No, It will not effect any provison of co. act. It is just like third party guaratee for the bank because company any its own identity.
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