Sec.372a
This query is : Resolved
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.
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.
11 April 2012
Section 372A is applicable only for loans, guarantees or investments. It will not be applicable to deposits.
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26 November 2012
Dear Rakesh,
You may pls refer Section. 1st para of section refers to my answer.
You may pls refer Section. 1st para of section refers to my answer.
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