Personal guarantee of an independent director for p ltd co

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2016 Kindly Clear that whether an independent Director of a Public Ltd Co can give his Personal Guarantee to the Banker for the company in which he is a Independent Director.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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13 July 2016 No.

As qualification for appointment of any person as an independent director is that he has or had no pecuniary relationship or transaction with the company.

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