Section 372a
This query is : Resolved
sonia chib
(Querist)
26 November 2013
If a public limited Company grants corporate guarantee to another public limited company and if the directors of both the companies are same , then whether section 295 is applicable?
Ajay Mishra
(Expert)
27 November 2013
Section 295 put restrictions on a public company or a private company being a subsidiary of a public company intending to make any type of transaction with a director of the company or partner or relative of a director, etc. whether, directly or indirectly to make any loan, or to give any guarantee, or to provide any security in connection with a loan made by any other person to, or to any other person by, and it calls for obtaining the previous approval of the Central Government.
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