Loan by holding company
This query is : Resolved
Deepesh Kumar Nayak
(Querist)
15 September 2012
Dear Experts,
Holding company taking finance from a bank for its future expansion, and mortgaging its subsidiary companies property in favour of bank for securing the same loan.
My question is what compliances/formalities has to be done by the subsidiary company.
Please also suggest the attracting sections in this regard.
Holding company taking finance from a bank for its future expansion, and mortgaging its subsidiary companies property in favour of bank for securing the same loan.
My question is what compliances/formalities has to be done by the subsidiary company.
Please also suggest the attracting sections in this regard.
CA Ayush Agarwal
(Expert)
15 September 2012
Only Reporting is Required in Case of StandAlone Financial Statement of Both Companies.
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