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unsecred loans

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(Querist)
09 May 2008 can a public limited company give unsecured loan to a private limited company as well as charge the interest on the same if the said public limited comapny has shareholding as well as representative at the board in that private limited company?

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Shruti Agarwal
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R.V.RAO

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R.V.RAO (Expert)
09 May 2008 YES ,
YOU NEED TO COMPLY WITH PROVISIONS OF SEC. 372A OF COMPANIY'S ACT WHICH GOVERNS INTER CORP. LOANS....
ALSO YOU NEED TO COMPLY WITH PROVISIONS OF SEC 295 -LOANS TO DIRECTORS AND FIRMS OR PVT.LTD.COS..... IN WHICH DIRECTORS ARE INTERESTED AS DIRECTORS OR MEMBERS.
R.V.RAO
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shruti

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shruti (Querist)
09 May 2008 Thank you sir for your response
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