Dear Members,
Greetings to all..
kindly clarify whether a Private Company can give guarantee to a Partnership firm (one of the partners of the fim is the Director in the guarantee given Company). As per section 185 (1) (b) of the Companies Act, 2013 it have restriction to give any loan or guarantee to any firm in which any such director or relative is a partner;
meanwhile Section 186 (2) (b) explains "No Company shall directly or indirectly give any guarantee or provide security in connection with to any other body corporate or person not exceeding the prescribed limit."
clarification required:
whether a company can give guarantee or not? if no under section 185 (1) (b) of the companies Act, 2013 means why the limit of the Guarantee has included "any person or any body corporate" in section 186 (2) (b) of the Companies Act, 2013.
It may appear like an Unsecured loan as no charge on the assets of the company, but giving Guarantee from Foreign Holding company for loan is secured to the bank . In case of default , Holding Co will have to pay to the foreign bank on its behalf, and in turn it can claim the payment from subsidiary Indian company; Also find out any counter guarantee or agreement between them.in this respect and its registration.It is Secured Loan, backed by such Guarantee, to the bank .In short , it is secured loan to the Subsidiary Co also. So to avoid it as a .................case, comply the law :
Under FEMA , the Indian Company has to obtain prior RBI permission for getting such guarantee [contingent liability - obligation to pay to the Holding Co against such guarantee.in future]. . Then file the charges with ROC.under the Cos Act.
Dear All Members,
A Prvt Ltd Company which is Limited by guarantee wants to close.
Anybody share the procedure
Dear All Members,
A Prvt Ltd Company which is Limited by guarantee wants to close.
Anybody share the procedure
Dear Members,
The Indian Company has borrowed funds from a Bank situated in India, whereas the Guarantee is extended by the Foreign Holding Company.
Can any one suggest What are all the compliance applicable under Companies Act and FEMA ?
subsidiary
borrowings
holding
foreign
given
guarantee
Dear Members,
The Indian Company has borrowed funds from a Bank situated in India, whereas the Guarantee is extended by the Foreign Holding Company.
Can anyone suggest What are all the compliance applicable under the Companies Act and FEMA ??
subsidiary
borrowings
holding
foreign
given
guarantee
Does anyone have a ROC compliance certificate and Corporate guarantee certificate?
Kindly provide.
certificate
guarantee
corporate
compliance
One of our Client want to start a company without share capital, is this limited only to a company limited by guarantee?
Click here to view / answer Share it onDear All,
The Case is as Under
The Company have provided Corporate Guarantee to one of its sister concern to avail Bank Limits (for Sister Concern) where nor any Movable or Immovable Properties are mortgaged and hypothecated respectively so is there a need to Create a Charge for Such Guarantee?
Dear Sir,
one of Pvt. company wants to give provide guarantee to another pvt. Company in which the directors are common.
The Guarantee will be provided on the property of first company. which will be more than the limit provided in section 186. Please guide what compliance required under Law for this transection.
Dear Professionals,
I urgently required draft documents or filed forms of company incorporation. company limited by guarantee.
Please Send ASAP
Thanks in Advance.
Dear Colleagues,
Please help me following case is. Company A owns the property of Rs. 5 Cr which it wants to give as security and guarantee for a loan of other Company B to a financial institution. Both do not have any related party transaction.
