The ninth edition of the book ‘Law Relating to Guarantees’ by Rajesh Narain Gupta and Amit Aggarwal has been published by Lexis Nexis- Universal.
Bar & Bench | 4th October, 2022
The Ninth Edition of the book ‘Law Relating to Guarantees’ has been published by Lexis Nexis- Universal, revised and edited by Rajesh Narain Gupta (Managing Partner) and Amit Aggarwal (Senior Partner and Head of Corporate Practice) at SNG and Partners.
The book intends to be a primer on the subject of Guarantees. In the fast-changing world where the entire Banking and Financial Services are on a global platform, the newly added chapters on guarantees under the Block Chain and Cross Border Guarantees with implications under FEMA and the chapter on Position of Guarantor under the IBC are extremely relevant and hence this book would act as a handbook for professionals, lawyers, academicians and others for an inclusive understanding of the various facets of the Laws related to guarantees and the challenges surrounding it.
The book not only addresses the foundational principles and procedures of laws relating to guarantees but also includes proformas of Bank Guarantees and Indemnity Bonds, the chapters on Liability of Surety, Continuing Guarantees, Discharge of Surety and Invalid Guarantees give a very clear insight into the legal position and issues in the light of substantive laws as well as legal precedents which makes the book quite exhaustive.
The book is quite exhaustive. The chapters on Liability of Surety; Continuing Guarantees; Discharge of Surety and Invalid Guarantees gives a very clear insight into the legal position and issues in the light of substantive laws as well as legal precedents.
Praise for the book
“A guarantee enhances the asset quality, reduces risk to the lender and gives vital comfort to a lender. This book touches on all possible aspects on individual and corporate guarantee under the law and is a very useful and must read for any lender”
– Keki Mistry
Vice Chairman and CEO, HDFC Limited
“Bank Guarantees are critical securities while lending to SME and SSME and this book encompasses all risk and mitigants as well as standard draft which are useful for bankers and the advisor.”
— Sivasubramanian Ramann
Chairman and Managing Director, SIDBI
“If you have a question on the subject of guarantee, you will find the answer here…guaranteed! It’s practically an encyclopedia on the subject and continues to be a go to reference book in our library.”
— Nilanjan Saha
General Counsel, ICICI Bank Limited
“This is an amazing publication. Particularly the clarity on the issues on guarantees under FEMA is very relevant to a foreign bank.”
— Sharad Aggarwal
CEO, Emirates NBD
“A very large proportion of businesses in India are family promoted and managed. The promoter family has a significant “skin in the business”. The issue of personal and corporate guarantees and their efficacy has been of great interest to the banks and other stakeholders. these guarantees have been core to the banking business in addition to other forms of collateral. The effectiveness of these guarantees has been tested over time. The recent judicial pronouncement particularly by the apex court on personal/corporate guarantees, SBLC’s and other forms of indemnifications have been closely monitored by the business community and banks. These have far reached implications. The revised version of this book provides a comprehensive update on various decrees and its consequences. A must read for all”
– Sunil Mehta
Former Chairman, YES Bank & PNB
Founder & Chairman, SPM Capital Advisors Pvt Ltd