23 August 2016
How lenders (banks) safeguard their interest consequent to change in the constitution of the borrower including change in management ownership. whether it is necessary to inform lender banks if any director resign from the company? If they do not inform , what are the action which can be taken by the banks against them? both civil and criminal.
24 August 2016
DEAR SIR PLEASE SPECIFY WHETHER YOUR ANSWER IS FOR ONLY THOSE DIRECTORS WHO GAVE PERSONAL GUARANTEE TO THE BANKS FOR THE LOANS OR FOR ALL THE DIRECTORS?
24 August 2016
WHETHER IT IS NECESSARY FOR ALL THE DIRECTORS OF THE LENDEE COMPANY TO INFORM THE LENDER BANK AFTER RESIGNING ? OR IT IS ONLY THE RESPONSIBILTY OF DIRECTORS WHO GAVE PERSONAL GUARANTEE?
24 August 2016
Please go through the loan documents carefully..... Banks do take PERSONAL guarantee of the directors.... If the personal guarantee of the directors is NOT obtained by the bank, then no need for the person/director signing the loan document out of POST rather than individual
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