unsecred loans
This query is : Resolved
09 May 2008
can a public limited company give unsecured loan to a private limited company as well as charge the interest on the same if the said public limited comapny has shareholding as well as representative at the board in that private limited company?
Regards
Shruti Agarwal
Regards
Shruti Agarwal
09 May 2008
YES ,
YOU NEED TO COMPLY WITH PROVISIONS OF SEC. 372A OF COMPANIY'S ACT WHICH GOVERNS INTER CORP. LOANS....
ALSO YOU NEED TO COMPLY WITH PROVISIONS OF SEC 295 -LOANS TO DIRECTORS AND FIRMS OR PVT.LTD.COS..... IN WHICH DIRECTORS ARE INTERESTED AS DIRECTORS OR MEMBERS.
R.V.RAO
YOU NEED TO COMPLY WITH PROVISIONS OF SEC. 372A OF COMPANIY'S ACT WHICH GOVERNS INTER CORP. LOANS....
ALSO YOU NEED TO COMPLY WITH PROVISIONS OF SEC 295 -LOANS TO DIRECTORS AND FIRMS OR PVT.LTD.COS..... IN WHICH DIRECTORS ARE INTERESTED AS DIRECTORS OR MEMBERS.
R.V.RAO
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
