Letters to the Editor

To The Editor, BCAS, Mumbai

Respected Sir,

This has reference to the latest articles by Dr. Anup P. Shah in the September Edition of BCAJ.

The article written by Mr. Anup Shah is of great importance as most of the clients of a practicing chartered accountant have borrowed funds for personal / business purposes. The Indian System of borrowing from banks and financial institutions invariably seek collateral securities and backed by guarantee from one or more guarantors. Often such guarantors are not aware of their responsibilities and future contingent liabilities.

The author has provided detailed analysis of provisions under Indian Contract Act as also other contemporary laws such as IBC laws, etc. The evolution of legal case laws and up to date situation of applicable laws to a guarantor have been brought out succinctly and comprehensively. The utility value of such articles of day to day advisory services to clients has been enormous and highly useful. Many of articles written by the author Dr. Anup P. Shah have been highly useful for day to day practice for CAs and tax practicing professionals.

We thank Mr. Anup Shah for taking time out of his very busy schedule and rendering yeoman’s service to the profession on a regular basis for last several years by w