Sec 372a
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2012
can listed co give interest free loan to third party under sec 372A of co. act?
04 July 2012
Hi
Please read sub section (3) of section 372A of the Companies Act, 1956 which says that "no loan to any body corporate shall be made at a rate lower than the prevailing bank rate".
Please read sub section (3) of section 372A of the Companies Act, 1956 which says that "no loan to any body corporate shall be made at a rate lower than the prevailing bank rate".
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