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constituent’s liabilities

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(Querist)
07 March 2009 What is the meaning of constituent’s liabilities in banking accounts?

please clarify me.

Thanks in advance
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
07 March 2009 Bank Gurantees and Letter of Credits issued by the bank on account of a/c holders request constitute constituent's liability.
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Vinothbabu.S

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Vinothbabu.S (Querist)
07 March 2009 Thank you very much
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