Sec 2(22)(e)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2012
Can a private limited company (A) lend money to another private limited company (B). The Directors of Company (A) is also a director in Company (B).
CA CS Amit S. Kedia
(Expert)
06 July 2012
Yes, it can lend money to another company but on the condition that the director should not be beneficially shareholder of the company holding shares in excess of 10%and also, the substantila shareholderin the other pvt company.
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