Clarification on director lending unsecured debt to other parties

30-Mar-2023 (In Corporate Law)
We are a company with three directors. One director is willing to lend Rs 20 lakhs to the company as debt. Is there a way to take personal guarantees from the other parties to ensure repayment if there is a business loss. Also if the above doesn't work can the director lend unsecured debt to the other parties and then take personal guarantees for repayment?
Answers (0)

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Divorce Lawyers at to address the specific facts and details.

Report abuse?

Comments by Users

No Comments! Be the first one to comment.

" has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."