Section 372a

Dear all,

Our company is giving guarantee in favor of a borrower company to secure an exposure of the said borrower company which is being covered by a "group" consisting of a Private Limited Company & two Partnership Firm's. In this situation the said "group" who is being secured by our company, itself is not a "person" or a "body corporate". Therefore will the provisions of section 372A of the companies Act will be attracted ?

Kindly know that there is there is no way of knowing that how much exposure is being covered by the said Private Limited Company who also forms a part of the said group.

Regards,

Sagnik Sanyal