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Sec 372a

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Querist : Anonymous (Querist)
03 July 2012 can listed co give interest free loan to third party under sec 372A of co. act?
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Ajay Mishra

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Ajay Mishra (Expert)
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".
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