Company Secretary
1352 Points
Joined January 2012
Ms. Chandrika,
As per sub section 8(iii) of Section 372A, Nothing contained in Section 372A shall apply to a private company, unless it is a subsidiary of a public company;
Section 295 not applicable to private company unless it is a subsidiary of a public company.
But you have to go through your AOA, if not restricted by AOA of your company, private company can give bank gurantee to partnership firm.