Loan from Shareholder company
This query is : Resolved
10 September 2009
Dear Sir
ABC is a private limited company holding 97% shares of a public limited company. In other words the public limited company is a subsidiary of the private limited company.
Can the public limited company avail loan from its shareholder / holding company which is a private limited company.
with regards
Muralidharan
ABC is a private limited company holding 97% shares of a public limited company. In other words the public limited company is a subsidiary of the private limited company.
Can the public limited company avail loan from its shareholder / holding company which is a private limited company.
with regards
Muralidharan
11 September 2009
Dear Mr. Muralidharan
I do not find any bar on that.
Section 372A which puts restriction on intercorporate loan is not applicable to a loan given by holding co to its subsidiary.
rgds
I do not find any bar on that.
Section 372A which puts restriction on intercorporate loan is not applicable to a loan given by holding co to its subsidiary.
rgds
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