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Section 293

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 April 2010 Hi,

Whether approval of members is required for borrowing by private company subsidiary company from its holding company(Public limited) in excess of its share cap and free reserves
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Ankur Garg

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Ankur Garg (Expert)
26 April 2010 If your private company is subsidiary of a public company than section 293(1)(d) is applicable and you have to obtain prior shareholders approval as your present loan exceeds the paid up capital and free reserves of the company.

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 May 2010 thanks
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