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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?
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