The Writ Petition was filed concerning the invocation of personal guarantees issued by promoters/managerial personnel, as directed by a Circular from the Ministry of Finance. The petitioners claimed that Public Sector Undertakings were not invoking these guarantees, leading to significant losses for the public exchequer.
The Ministry of Finance issued a Circular directing the invocation of personal guarantees issued by promoters/managerial personnel. Public Sector Undertakings were allegedly not invoking these guarantees, leading to financial losses. The petitioners filed a Writ Petition seeking intervention. The Court acknowledged the Ministry's directive and the petitioners' concerns.
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The petition wa…
Ministry of Finance directed personal guarantees…
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The Writ Petition was filed concerning the invocation of personal guarantees issued by promoters/managerial personnel, as directed by a Circular from the Ministry of Finance. The petitioners claimed that Public Sector Undertakings were not invoking these guarantees, leading to significant losses for the public exchequer.
The Ministry of Finance issued a Circular directing the invocation of personal guarantees issued by promoters/managerial personnel. Public Sector Undertakings were allegedly not invoking these guarantees, leading to financial losses. The petitioners filed a Writ Petition seeking intervention. The Court acknowledged the Ministry's directive and the petitioners' concerns.
The petition wa…
Ministry of Finance directed personal guarantees…
Sign in to view related legal provisions.