Corporate finance : Legal aspects of borrowing.

Borrowed funds are the single largest source of finance for business and industry. Lending and borrowing are governed by a complex set of legislation, rules, regulations, conventions, practices and procedures. Also, borrowing often entails hypothecation or mortgage of some of the assets of a borrower as collateral, and can even influence the manner and direction of his business activity. As such, it is of vital im portance for every borrower to clearly grasp the legal implications of borrowing. This book provides the borrower with precisely such guidance.

It covers all legal aspects of loan transactions whether with banks, investment bodies or financial institutions-which every borrower ought to know. It highlights all relevant aspects for borrowers of small, medium and large funds and focusses on the various terms and conditions that normally accompany such loans. The book also deals with the statutory obligations of borrowers under I (D & R) Act, FERA, MRTP Act, Securities Contract (Reputation) Act, Import & Export (Contract) Act, Income Tax Act, Co operative Societies Act, etc. There is com prehensive coverage of the different types of security hic lenders insist upon, and a clear explanation of the related documents which need to be executed. For the corporate borrower, it details the formalities which must be complied with as per the Companies Act. And, last bu pot the least, the book deals at some length with the legal remedies available to borrowers in cases of difference or dispute with the lender.

The first book of its kind, it would serve as a valuable reference for all professional finance managers, company secretaries, chartered acccoun tants, businessmen and those working in banks and financial institutions, solicitors and advocates and students of professional business and law institutions.