Can a private ltd company give guarantee to a partnership firm, in which it's director is partner ??
then what is the procedure ?
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Can a private ltd company give bank guarantee to a firm
Replies (1)
Dear Saroja
A company cannot give guarantee on behalf of a partnership firm in which one of its director is a partner as per provisions of section 185. However section 185 saves whatever is provided under any other sections of the Companies Act, 2013. So a company can provide a guarantee by complying provisions of section 186, as it authorizes a company to give loan/ guarantee etc. Pl contact at 9872999989 for further clarification if need be.
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