Applicability of section 295
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 April 2012
Whether provisions of section 295 applicable to Inter-corporate loans between group companies, having similar Directors
Whether provisions of section 295 applicable to Inter-corporate loans between group companies, having similar Directors
05 April 2012
Yes
The provisions of section 372A apply to the loans, guarantees and securities to which section 295 applies.
The provisions of section 372A apply to the loans, guarantees and securities to which section 295 applies.
05 April 2012
Yes. But if the company is a private company which is not a subsidiary of a public company, then sec 295 is not applicable.
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