Application of 372A of Co Act
This query is : Resolved
29 September 2010
Dear All,
Kindly advise, whether Sec 372A of Co Act, applies in following cases:
1. While issuing Corporate Guarantee (CG) exceeding the cap (60% of pd up cap + free resev and also 100% of free reserve whichever is higher)
2. CG is issued by subsidiary to holding
3. If such subsidiary is not 100% subsidiary
Pls give reply case specific and also a combination of all three conds.
Regards,
Sunil
Kindly advise, whether Sec 372A of Co Act, applies in following cases:
1. While issuing Corporate Guarantee (CG) exceeding the cap (60% of pd up cap + free resev and also 100% of free reserve whichever is higher)
2. CG is issued by subsidiary to holding
3. If such subsidiary is not 100% subsidiary
Pls give reply case specific and also a combination of all three conds.
Regards,
Sunil
29 September 2010
Section 372A applies.
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