Loan related
This query is : Resolved
CA. Manoj Kumar Jha
(Querist)
16 April 2012
If a listed company wish to furnish corporate guarantee for loan taken by other group company from any Bank, whether, consent of Central Govt. is required u/s 295 of Companies Act, 1956 (for providing corporate guarantee).
CA CS Amit S. Kedia
(Expert)
16 April 2012
If the group company is a subsidiary company then there is no requirement of obtaining approval of CG otherwise you will have to seek the approval from CG before providing any guarantee to group company.
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