372a

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2011 Can a public Company waive off interest due on a inter corporate loan.

if there will be any difference if the companies are holding subsidary.

Guest

Guest (Expert)

24 September 2011 Yes, Public Co waive off interest / bad debts etc... A Simple Board resoln will be enough.

Loan to 100 % Subsidiary will not be covered under the Purview of Section 372A.

Regards

Sriram

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