Personal guarantee of an independent director for p ltd co
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 July 2016
Kindly Clear that whether an independent Director of a Public Ltd Co can give his Personal Guarantee to the Banker for the company in which he is a Independent Director.
CS Mitesh Mehta
(Expert)
13 July 2016
No.
As qualification for appointment of any person as an independent director is that he has or had no pecuniary relationship or transaction with the company.
As qualification for appointment of any person as an independent director is that he has or had no pecuniary relationship or transaction with the company.
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