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Inter Corporate Loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 December 2009 How to note in minutes book of a subsidiary co.regarding inter corporate loan request from his holding company discussed in a board meeting of a subsidiary company?
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Sudhindra

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Sudhindra (Expert)
30 December 2009 It may be mentioned that an unsecured loan has been granted to holding company......at so and so rate of interest for a period of so and so months/year/days repayable on demand, and is within the limit of borrowings as mentioned under section....of the companies act 1956.
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Querist : Anonymous

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Querist : Anonymous (Querist)
30 December 2009 thanx for ur reply sir but here ques. is a bit different here m preparing minutes book of the subsidiary company and the loan has been requested by subsidiary co. and its not graned yet.
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