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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