Hello experts
Can one company give Loan to other company or its Associated or subsidiary more than its share capital, free reserve and security premium?
Thank in advance sir/Mam
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Loan and Advance to company by other company
Replies (6)
You Have To Pass Special Resolution In General Meeting
Not general meeting but extraordinary general meeting.
@ Sabyasachi It can be passed in AGM/EOGM whichever is early ...
YES GENERALLY LOAN GIVING AND TAKING IS A NATURAL PHENOMENON. SO CHIRAG WHICHEVER IS EARLIER DOES NOT ALWAYS APPLY.
Ordinary Course In Business Only when certain criteria are fulfilled ,if the question relates to Nbfc/bank then there is no need for any approval even exceeding NW , or when the borrower is WOS which is not in this case ,so PRIOR member approval in general meetings is essential ....
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