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Collertaral security

This query is : Resolved 
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(Querist)
25 August 2012

Is there any RBI Giudeline Regarding the type of securities to be demanded by the Bank for providing the Cash Credit Facilities to the Company?If so,reference thereof.

Can a director's own residence be given as colleterral security against the above facilities,if he so agrees to provide?

Can a direcor's remuneration be kept withheld,untill he fulfills his personal guarantees in connection with the above facilitiues?


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25 August 2012 1. There is no RBI guideline for this.

2. YES

3. YES, insert appropriate clause in the agreement.
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