Can a private ltd co accept loan from its subsidiary Co.
This query is : Resolved
07 August 2008
Can a Holding private limited company accept loan from its subsidiary private ltd co? As sec 3 prohibits acceptance of deposits from public other than members, directors or their relatives.
Thanks in advance
Thanks in advance
07 August 2008
Intercorporate loans are not deposits. However ensure compliance of section 295 of the companies Act.
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