M s MNC Ltd is a Public Limited Company desires to give to Mr Tukaram a guarantee for his loan with ...........

Companies Act-Phase (I & II) Share capital and debentures

M/s MNC Ltd., is a Public Limited Company desires to give to Mr. Tukaram a guarantee for his loan with Bank OF Maharashtra of Rs. 50 Lakhs for purchase of its own shares. Whether Company can do so?

Yes

Partly Yes

Partly No

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Explanation:

As per Section 67(2) of the companies Act, 2013, a Public Limited Company shall not, whether directly or indirectly give to any person a loan, guarantee, security or any other financial assistance for purchase of its own shares or shares in its Holding Company

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