Dear Sirs,
My Query is a unlisted public limited company want to give guarantee to another unlisted public limited company both company are under the same management all the shareholders and directors are same.
which sections of Company Law are required to comply
What are the procedures to be followed
you are requested to kindly provide me all the relavant information, if any....
Thanks in advance.
hello again,
Sec: 372A will be applicable there is limit provided for the such transaction.
check it.
Thanks
also consider this with the previous
if the company is under same management check out the provison of sec 295 of co. act it might be attracts. sec 295 (1) is the criteria which should be consider in mind in case of public co.
thanks
Kindly tell me what procedure are required to be followed
1) if the only section 372A is applicble if the aggregate amount including the present and passed( allready given) laon, gaurantee, securities and investment exceeds
i) 60 of paid up capital and free reserves or
ii)100 percent of free reserve which ever is more
than convey EGM/AGm and pass spesial resolution
Than file F23 in prescribed formate.
or
otherwise only board resolution is requie.
2) if sec 295 is applicable than application for approval, in both the above cases i.e board and AGM/EGM, is requier to obtain from C.G in E-Form 24AB
Thanks regard.
CAclubindia
