Loan from other company

In case a Private Company has taken any Unsecured loan from another Company, then the Lending company has to comply with the requirement of Section 372A of the Companies Act 1956. But What are the requirements that the Borrowing Private Company has to fulfill as per the Companies Act 1956 (Mandatory or Voluntary)?

 

Please suggest.

Replies (1)
Section 372A is not applicable to private companies. If the lending co and borrowing co are associate concern then disclosure under related parties is required to be made in the balance sheet or they have common director interested in the said company, then disclosure under sec 299 is required

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