Indemnity bond
This query is : Resolved
18 September 2017
In indemnity bond for loss of share certificate,two surity needs to sign. I had one surety who earn 15000 p.m and had .filed ITR. and no form 16. and another having C.A firm receiving professional fees. Can these be surety in indemnity bond
19 September 2017
The person standing as surety should be solvent to the extent of the amount covered in the indemnity bond. However, the indemnitee ( company) can stipulate conditions such as the surety should be income tax payees So seek clarification from the indemnitee.
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