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Intercorporate Loans & Investments

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(Querist)
04 June 2011 Sir

It is mentioned in Module that Sec 372A is not applicable in case of gurantee given by A ltd. in respect of loan made by any person to A's wholly own subsidiary.

So does it mean that Sec 372A is applicable to A Ltd in case of guarentee given by it to it's wholly own subsidiary that is B Ltd for laon granted by B to any person ?
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CA Sumat Singhal

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CA Sumat Singhal (Expert)
05 June 2011 Obviously, exemption is granted only when guarantee is provided for or on behalf of subsidiary not for anyother company, so in above case exemption will not be applicable and 372A is applicable.
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CA Sahil Singla..

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CA Sahil Singla.. (Querist)
05 June 2011 consider the case

A ltd. provided guarantee to B Ltd., A's wholly own subsidiary for giving loan to C & Co., a partnership firm

so according to u, here 372A is applicable ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
10 July 2023 "Sorry, I am not a featured member."

For featured members contact....

https://www.caclubindia.com/catalogue/featured.asp
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