can a pvt ltd company give loan to its ltd sister concern.
This query is : Resolved
18 February 2011
Dear Experts,
Our is a pvt ltd company. we have given advance to a public limted company, which is our sister concern. is this allowed as per company's Act.
Waiting for reply,
Thanks in advacne.
Sushli.
Our is a pvt ltd company. we have given advance to a public limted company, which is our sister concern. is this allowed as per company's Act.
Waiting for reply,
Thanks in advacne.
Sushli.
Sunil Kr. Sanganeria
(Expert)
18 February 2011
Any loan to sister concern without interest may be questiond by the ITO.
Further, section 2(22)(e) may be applicable. Section 2(22)(e) dedpends on pattern of shareholding of both the Company
Further, section 2(22)(e) may be applicable. Section 2(22)(e) dedpends on pattern of shareholding of both the Company
18 February 2011
No provision of companies act shall apply to a private company, Unless the pvt Company is subsidiary of a Public Company.
If your company is pvt Company and not subsidiary of a public company then you can give advance or loan to any public company or Pvt company.
If your company is pvt Company and not subsidiary of a public company then you can give advance or loan to any public company or Pvt company.
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