Section 372A of the Companies Act, 1956
This query is : Resolved
06 April 2009
The term loan includes any deposit made by a company to another company............
Does the term "any deposit" means a trade advance made by a company to another comapny is included in the definition of section 372A and whether such advances are required to be included in the Register of Investments.
Does the term "any deposit" means a trade advance made by a company to another comapny is included in the definition of section 372A and whether such advances are required to be included in the Register of Investments.
CA. B.SRINIVASULU
(Expert)
07 April 2009
A trade advance made by a company will not come under the purview of Section 372 and such advances need not be recorded in the register of investments.
07 April 2009
the term "loan" is very vast and it includes the word "any deposit". So, will an advance given or deposit given be included.
Can u provide any citiation or any explanantion for the same.
Can u provide any citiation or any explanantion for the same.
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