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Q.22: CAN INDIVIDUAL INDIRECT PROMOTERS OF THE INDIAN PARTY ISSUE PERSONAL GUARANTEE TO AN OVERSEAS LENDER ON BEHALF OF THE JV/WOS UNDER GENERAL PERMISSION?


With effect from March 28, 2012, issuance of personal guarantee by the promoters of the Indian Party currently allowed under the General Permission has also been extended to the indirect resident individual promoters of the Indian Party with same stipulations as in the case of personal guarantee by the direct promoters.

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