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Loans to subsidiary company
Hi
I Have doubt on Filing MGT-14 on loan to subsidiary Company. As if a Holding company give unsecured loan to 100% subsidiary company and passed board resolution on this point under section 180(1) (a).. is this resolution required to file MGT-14
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As PER SECTION 179(3) (f), if the Holding Company is public Limited Company , it has to file Form no MGT 14 WITH REGISTRAR WITHIN 30 DAYS OF PASSING RESOLUTION. BUT IF THE HOLDING COMPANY IS PRIVATE LIMITED COMPANY, THEN AS PER COMPANIES AMENDMENT ACT 2015, PRIVATE COMPANIES ARE EXEMPTED FROM FILING FORM MGT 14.
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