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Smoke, mirrors, and a chimera of promoter guarantees

Smoke, mirrors, and a chimera of promoter guarantees Promoter’s personal guarantee first arose as an additional security for industrial loans made by banks and institutions in response to syphoning off funds and falsification of accounts by promoters. But over the years, it became a joke and now banks are putting in place stringent recovery systems

from Moneycontrol Business News https://ift.tt/r20SdKY
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