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372a

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(Querist)
14 December 2011 I WANT TO KNOW WHETHER SECTION 372A IS APPLICABLE IN THE FOLLOWING CASE:-

COMPANY A HAS ENTERED INTO AN AGREEMENT WITH SOME BODY CORPORATE FOR SALE OF ONE OF ITS PROJECT AND THE SAID BODY CORPORATE IN ORDER TO SECURE ITS INVESTMENT ASKED COMPANY A TO PROVIDE A CORPORATE GUARANTEE AND COMPANY A EXECUTED THE REQUISITE CORPORATE GUARANTEE. WHETHER THIS CORPORATE GUARANTEE IS COVERED UNDER SECTION 372A FOR COMPANY A
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
14 December 2011 Corporate Guarantee is given in connection with a loan made by any other person to or to any other person, by any body corporate.
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SHRUTI

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SHRUTI (Querist)
14 December 2011 so whether it is applicable in this case or not
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Guest

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Guest (Expert)
14 December 2011 Yes, it is covered under section 372A.
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