Dear Professional Colleague
A ltd want to give intercorporate loan to B ltd. A ltd having enough reserve to takecare of Sec 372A.
|
A Shareholding Unlisted public Company |
B Shareholding Listed Company |
|
|
Board of Directors |
Mr.A 5.00 Mr.B 4.00 Mr.C 0.00 Mr.D 0.00
|
Mr.A 7.18% Mr.B 2.51% Mr.C 0.00 Mr.D 0.05 Mr.E 0.00 Mr.F 0.00 |
|
Common Directors |
A,B,C,D |
A,B,C,D |
|
Promoter cum Director |
A,B,C |
A,B,C |
Apart from the above, one common shareholder (Z ltd OCB ) is holding 49% in B ltd and 46% in A ltd.
Mr.A is holding 100% shares of Z ltd and Mr.A is a Director of Z ltd.
Please give valuable points in respect to companies act and income tax act angle, which will help us to think before ink.
CAclubindia
