loans from group company
This query is : Resolved
19 June 2009
whether there is any restriction in receiving loan from group companies under the companies act.
19 June 2009
Hello Nilesh,
In case of inter corporate loan u/s 372A you have to obtain unanimous Board approval and in certain cases prior shareholders approval.
For limits of inter corporate loand refer section 372A.
Disclosure of interest by directors u/s 299 is also very important.
I would suggest go through the following sections of companies act, 1956 deeply:
295, 372A, 297, 299, 300.
Regards
In case of inter corporate loan u/s 372A you have to obtain unanimous Board approval and in certain cases prior shareholders approval.
For limits of inter corporate loand refer section 372A.
Disclosure of interest by directors u/s 299 is also very important.
I would suggest go through the following sections of companies act, 1956 deeply:
295, 372A, 297, 299, 300.
Regards
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- 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
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
