06 January 2012
Thank you Mr Parth Shah for your reply. How to word the unsecured loan in the documents. Is it ok to replace the word in the terms and condition with the Unsecured Loan. Please through some light into it.
06 January 2012
Hi, Unsecured word is used when you are just accpeting deposits from your relatives and so known parties where you dont have mortgage your assets.
06 January 2012
Hi Mr. Parth Shah, You are absolutely correct from whom we can get unsecured loan. My issue is anyway I am going to rasie the capital in this route only (Bond private placement). what I am planing is to give Bank Guarantee to the people who is lendng to me. Say 50% of principle amount. Today I had meeting with the Regional Manager of the Bank for the Bank Guarantee part. He raised two issues 1. about the Bond (is any requirement to obtain perior permission from RBI). according to my Knowledge there is no such requirement. that is why I am asking for some clarification with some solid doumentry evidence. As of now I can change the Terms and Conditions 2. Bank Guarantee Text. that can be taken care by my Advocate.
09 January 2012
Hi, You can very well proceed further with formalities as there is no such requirement of any kind of permission for the arrangement you are going to do.
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