Director standing surety to outsider - Instructions to directors not to expose themselves to risk of standing sureties for accused persons

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Full Text of the Document

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....ors not to expose themselves to risk of standing sureties for accused persons Recently a case came to the notice of Government where a director of a public limited company stood surety for an outsider against whom prosecution was launched by Government and a bailable warrant of arrest was issued by a court in this country. The matter has since been examined in detail and this Department is of t....