Section 24A(1) in The M.P. Vanijyik Kar Adhiniyam, 1994
(1)Notwithstanding anything contained in Sections 22 and 23, the Commissioner, before issuing a permanent registration certificate, shall require the dealer, who is a company registered under the Companies Act, 1956 (No. 1 of 1956), to furnish personal/ corporate guarantee of the promoters for proper realisation of tax or any other sum payable under this Act, in such form and in such manner as may be prescribed.
