Sec.372a

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Ramya Deepthi (Querist)
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11 April 2012 Dear Members,
Please advise whether fixed deposit made by a Company in any other Body Corporate is covered under Sec.372A of Companies Act?
As per the Explanation given under section 372A , 'Investment' means investment in the securities of any other body corporate, which includes shares, debentures, convertible debentures, bonds, etc. as defined under the Securities and Exchange Board of India Act, 1992 and the Securities Contract (Regulation) Act, 1956.

CA Kishore Tallam

CA Kishore Tallam (Expert)
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11 April 2012 Section 372A is applicable only for loans, guarantees or investments. It will not be applicable to deposits.

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rakesh

rakesh (Expert)
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22 October 2012 There is no such explanation under Section 372A.

CA Kishore Tallam

CA Kishore Tallam (Expert)
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26 November 2012 Dear Rakesh,
You may pls refer Section. 1st para of section refers to my answer.

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