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269ss

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sneha (Querist)
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16 September 2013 My Company has taken a term loan during the financial year 2012-13 from HDFC Ltd. Will 269SS apply to it. If no, why. (As per research done by me - HDFC LTd. is not a Public Financial Institution)

Prankur Gupta

Prankur Gupta (Expert)
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16 September 2013 SECTION 269SS IS NOT APPLICABLE IF LOAN IS TAKEN FROM A BANKING COMPANY.. A BANKING COMPANY IS A COMPANY ON WHICH BANKING REGULATION ACT APPLIES. AS PER MY KNOWLEDGE HDFC LIMITED IS GOVERNED BY BR ACT, HENCE, 269SS SHALL NOT APPLY.

sneha (Querist)
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24 September 2013 HDFC Bank Ltd. is a banking company, but HDFC Limited is a NBFC

Prankur Gupta

Prankur Gupta (Expert)
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16 October 2013 oh then Yes, 269ss is equally applicable to NBFC's

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