Legal Question in Banking Law in
can a private trust under indian trust act be a guarantor in any case? can the trust stand as a guaruntee for a loan?
Asked on 8/02/10, 2:55 am
3 Answers from Attorneys
J. Radhakrishnan
independent Practice
It depends upon the objects of the trust deed. If powers are given under the trust deed for the trust to guarantee loans to others, it can be done. Otherwise not.
Answered on 8/02/10, 6:39 pm
RAJIV GUPTA
(Cell: +91 9811284735) [email protected]
generally, a trust doesnt stand guarantee.
Answered on 8/03/10, 12:57 am
Pravin Vaidya
Independent
Normally no. But if trust deed provides for the same for say business purpose of trust etc. the trust can be guarantor strictly as per aothority given
Answered on 8/04/10, 4:34 am
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