debenture trustee, to enforce rights that arise out of
a Corporate Guarantee executed by the Respondent-defendant. The necessary
averments made in the plaint would ... Debenture Guarantee Deeds, the Defendant has, inter alia
vide the Corporate Guarantee Deed, dated 9th December, 2009, issued an
unconditional, absolute and irrevocable corporate guarantee
Works" covered under all the five Package Contracts and the Corporate
Guarantee dated 17.03.2012 executed by Duro Felguera.
2. As the parties and issues ... employer and the corporate company or
FGI.........."
27. Contention of GPL is that as per the Corporate Guarantee, the Spanish
Company has inter alia
make any inter-corporate investment if there is a default in repayment of deposits or interest thereon. Restrictions on Inter corporate Investment will also ... enterprises and for subscribing to right shares; (e) in case of corporate guarantee, the companies would be permitted to obtain ex-post-facto approval
assessment year-wise, respectively
regarding its corporate guarantee(s).
4. Learned counsel vehemently contended during the
course of hearing that the authorities below have erred ... money. He sought to buttress the
point that such a corporate guarantee is purely a shareholder
activity not forming any international transaction
corporate debtor. A corporate debtor can either be a corporate
person, who had borrowed money or a corporate person, who
gives guarantee regarding repayment ... corporate debtor. The
corporate debtor can be the principal borrower. It can also be a
corporate person assuming the status of corporate debtor having
offered
charged on the
optionally convertible loan granted to the AEs.
(ii) Corporate guarantee charges: Rs 4,19,22,177
17. The next ... million; Period: 365 days). So
far as these corporate guarantees are concerned, the assessee charged guarantee
commission @ 1% from the respective AEs. The assessee also
guarantee is not in the nature of bank guarantee, the rate
applicable to bank guarantee provided by the bank cannot be
applied to corporate guarantee ... guarantee given is a shareholder corporate guarantee as
opposed to commercial bank guarantee.
6. a) Determining the guarantee fee on the entire amount
of loan
thus, adopted 12% as ALP and accordingly made the adjustment.
CORPORATE GUARANTEE :
6. The TPO noted that the assessee did not file any submission
regarding ... assessee, vide letter dated 09.01.2013, furnished particulars of
corporate guarantee given by it in 2006 i.e., from February to December,
2006. The TPO noticed
corporate loans and investments
(1) No company shall, directly or indirectly,- (a) make any loan to any other body corporate; (b) give any guarantee ... directly or indirectly,- (a) make any loan to any body corporate; (b) give any guarantee, or provide security, in connection with a loan made
Officer, it was noticed that the assessee company has extended
a corporate guarantee in respect of loan of Rs 101.48 crores taken by its
subsidiary ... perused. These are
dealt with issue-wise as below:
7.6.1 Providing Corporate Guarantee is not a service: The issue has been dealt
with in detail
