Loan to Group Company
This query is : Resolved
K.Govindarajan
(Querist)
11 March 2009
Ours is a private Limited Company . We have given unescured loan to one of our Group company which is a public limited company .Is it require a board resolution ?
Please help me .
Please help me .
vikas bafna
(Expert)
11 March 2009
This proposal does not attract 372A unless it is a subsidiary of public company.But it will come under the perview of Sec 292.
Pass a Board resolution to give effect to the aforesaid transaction.
Pass a Board resolution to give effect to the aforesaid transaction.
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