A share holder of a private limited company if stands personally a guarantor for the loan disbursed to the company is not a defaulting borrower “ঋণ খেলাপী গ্রহীতা”. … Upon failure of the borrower to repay the loan, the primary liability for repayment lies with the borrower and upon his failure the guarantor. ….. (18 BLT (HCD) 210)