Corporate guarantee

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Goutam Jain (Querist)
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04 April 2012 1)Company has given corporate guarantee in favour of bank against loan to a proprietorship concern of which Director is a proprietor.
Is there any requirement for creation of charge from company side?
2)Company's ownership office is kept as a security in favour of bank against loan to a proprietorship concern of which director is a proprietor.
Who is to create the charge company or the bank?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 April 2012 i) Charge has to be created.
ii) Company is the owner of the immovable property, hence it is the primary duty of the company to create charge on its assets.

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