Our Public Ltd. Company gave corporate guaranttee to Bank for our associate Company.
Now i want to know is it mandatory to file form 8 for both the companies??
Banker is insisting to file form 8 for both the companies and according to me, that will increase the liability for both the companies.
Please suggest some solution for the same
You have to file form 8 for both the companies
It will not increase the liability as you may also attach with form 8 the board resolution about consenting to provide corporate guarantee to your associate company and that the liability will arise only if the later one fails to repay the debt.
Aggarwal Sarawagi and Co
New Delhi
CA
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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Shaswat initial support private limited
Ahmedabad
CS
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