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Section 7 – THE AIR CORPORATIONS (TRANSFER OF UNDERTAKINGS AND REPEAL) ACT, 1994

THE AIR CORPORATIONS (TRANSFER OF UNDERTAKINGS AND REPEAL) ACT, 1994

 

 

7. Guarantee to be operative.—

 

Any guarantee given for or in favour of a corporation with respect to any loan or lease finance shall continue to be operative in relation to the company in which the undertaking of that corporation has vested by virtue of this Act.

 

Comments

 

Any guarantee given for any loan or lease in favour of corporation shall be operative for the company as well.

 

 

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THE AIR CORPORATIONS (TRANSFER OF UNDERTAKINGS AND REPEAL) ACT, 1994

 

Indian Laws – Bare Acts

 

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