Dear all,
Request to advice pl. My query isthat a subsidiary of a Holding co. is giving security to bank for loan availed by holding Co. Whether its attract Sec 295(2) of Companies Act, 1956? If yes pl. advise and give comment.
Dear all,
Request to advice pl. My query isthat a subsidiary of a Holding co. is giving security to bank for loan availed by holding Co. Whether its attract Sec 295(2) of Companies Act, 1956? If yes pl. advise and give comment.
Sir….in your case exemption u/s 295(2) is not available bcoz here subsi company is acting in favour of its holding company.
Rest is dependent on the position of board of directors of both the companies, any common director and status of the companies whether they are public or private?
Tx
R P S K & Associates
Nashik
CA Inter
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Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
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Shaswat initial support private limited
Ahmedabad
CS
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O P Bagla & Co LLP
New Delhi
CA Inter
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