Dear Professionals and Experts,
Can a shareholder/member provide guarantee for the loan availed by the private company limited by shares?
If yes, what is the liability of shareholder in case of winding up of the comapny?
In winding up of such company, is he liable for the guarantee provided by him as well?
Learned members, request you to give your valuable remarks on the above. Thank you.
Yes a member can provide and he will be liable to pay off the loan for which had provided the guarantee in case any need arises.
Jawahar and Associates Chartered Accountants
Hyderabad
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VIKAS VERMA & CO
New Delhi
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