Loan to subsidiaries under ca 2013
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 March 2014
Can holding companies provide loan, guarantees in favour of their subsidiaries(indian & overseas) in cases of common directorship?
27 March 2014
1. In case of the Indian subsidiary where there are common directors and such subsidiary is a private company then giving loan or guarantee is prohibited...
2. If the Indian subsidiary is not a private company then you have to check whether 25% share capital of the subsidiary is held by directors of holding company...
3.Same 25% share capital you will have to check in case of overseas subsidiary...
4. Also please read explanation (e) to section 185(1)...
5. Abide by the limits of section 186...
2. If the Indian subsidiary is not a private company then you have to check whether 25% share capital of the subsidiary is held by directors of holding company...
3.Same 25% share capital you will have to check in case of overseas subsidiary...
4. Also please read explanation (e) to section 185(1)...
5. Abide by the limits of section 186...
28 March 2014
Today MCA has notified rules for board meeting and its powers... refer rule 10...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- Relief u/s Section 89
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
