Sec 295- urgent
This query is : Resolved
14 February 2012
Can A limited company give guarantee to the loan given by a bank to a partnership firm if that limited company holds 50% holding in that firm. ( Is CG Approval required in this case for the company to give guarantee as per section 295 )
udit sharma
(Expert)
14 February 2012
No approval of the Central Government is required in this case.
Previous approval of Central Government would have to be obtained if the Company intends to give guarantee in connection with a loan made to any partnership firm wherein any Director of the Company or any Director of the Holding Company of the Company providing guarantee or any relative of any such Director is a partner.
Regards
Previous approval of Central Government would have to be obtained if the Company intends to give guarantee in connection with a loan made to any partnership firm wherein any Director of the Company or any Director of the Holding Company of the Company providing guarantee or any relative of any such Director is a partner.
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
- Tax on Amount transferred in HUF Account
- Nursery business
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- Intimation under section 245
- GST input credit on commercial property
- Gift to nri relatives residing in usa
- GSTR-9C filing
- Royalty payments to the Mining Department for procurement of murum - GST input
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
