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
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