Loan query in case of pvt ltd company

I think section 370 will not applicable to private limited company unless it is a subsidy of limited company. 

Dear Pankaj,

Section is 372A  instead of 370.

Regards

thanks neha for correcting my view may I know difference between section 372 & 370?

thanks to all...i knw sec 372 is nt applicable on pvt ltd co. so what else can be done...thn i think board resolution is enough...pls guide!!1

Section 370 does not apply after commencement of Companies Amendment Act 1999. Check 370 (6) in this regard.

Section 372A is not applicable on private companies.

Originally posted by : Neha Jain
	Section 370 does not apply after commencement of Companies Amendment Act 1999. Check 370 (6) in this regard.   Section 372A is not applicable on private companies.

well said.