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Applicability of sec 372 a and 295

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Jivan (Querist)
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19 March 2012 Dear Expert,
A Private Limited Company has requested a certificate of non applicability of Sec 295 and 372A for submission to bank. My question is whether Sec 372A and 295 applies to Pvt Ltd Co? If no can I give such certificate.

Ajay Mishra

Ajay Mishra (Expert)
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19 March 2012 Hi

Yes, both section are not applicable to private company unless it is subsidiary of public company. You just give a certificate that such provisions is not apply to company.

Regards

Jiten Gupta

Jiten Gupta (Expert)
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20 March 2012 Agree with experts!!!

Section 295 and 372a are not applicable on Pvt ltd company unless such pvt ltd is subsidiary of Public Ltd.

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