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inter corporate deposit/short term loan to WOS

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(Querist)
02 February 2010 Is it necessary to pass a Board Resolution under Section 372A if ICD/loan is made to Wholly owned subsidiary. and Special Resolution of Shareholders is required or not in the above case.
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CA. Amit Daga

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CA. Amit Daga (Expert)
02 February 2010 for interncorporate loan you need a unanimous decision only

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