Legal Question in Banking Law in India

Maheshkumar says :

Subject : loan recovery from parent company Message : A Ltd is 100% overseas wholly owned subsidiary of B Ltd (Holding company). A Ltd taken a bank loan which it is defaulted in repayment. Whether Bank can recover the loan amount from B ltd which is 100% Holding company of A ltd ? How to recover the loan dues by the banker? Sent to : Admin on 08 July 2010

Maheshkumar says : Subject : personal guarantee

Two of the Indian directors executed personal guarantee for the loans taken for their company in a Indian bank of overseas branch. In case of failure,whether personal guarantee can be invoked against their personal properties in India by the overseas bank. In the above company ,there are three more directors but they have given any personal guarantee.As per the sanction letter,Personal guarantee should be obtained from the all directors.The above personal guarantee was also not intimated/get permission from RBI,India before/after execution and was executed in a white paper not in a stamp paper As per RBI guidelines , for any guarantee ,the permission and intimation thru authorised dealer is compulsory. Please clarify the above


Asked on 7/30/10, 4:36 am

1 Answer from Attorneys
Fahri Toga TOGA//OKSUZ

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Answered on 7/30/10, 5:50 am


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