......So, the RBI’s move to dispense with it, as recommended by the Mahapatra panel, after two years makes sense. What
is not welcome is the norm that promoters should furnish personal
guarantees for a loan to be recast. This militates against the principle
of limited liability: shareholder liability is limited to what they
have invested by way of fullypaid-up shares. But it is fair to ask the promoter to bring in additional funds as a condition for restructuring the loan...........
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