IS IT MANDATORY FOR THE PRIVATE LIMITED COMPANY TO HAVE A CLAUSE IN MOA FOR PROVIDE CORPORATE GUARANTEE TO ANOTHER PVT LTD COMPANY
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Corporate gaurantee
Replies (3)
No.
Act itself permitted companies to give CG (Corporate Guarantee) to others within the limit and hence i feel, it is not required to mentione specifically in the MOA.
Section 372A is not applicable to private company.But sometimes bank insist on having corporate guarantee clause in MOA. It is not required under Companies Act but insisted by some banks.
thank you sir...........
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