MCA Clarification: Circular on Loan to Public Ltd Co-Sec 295

SANTOSH SHAH (Company Secretary) (749 Points)

17 May 2011  

Dear Members

 

Please find attached MCA Circular -  No.24/2011 dated 12th May 2011 on-

Clarification on Loan to Public Limited Companies U/s 295 of Companies Act.

 

When Public Ltd Company is beneficiary of any loan / guarantee/ security

Prior Approval of Central Government would be required only when Sec 295 (d) &  (e) attracts.

 

regards

Santosh Shah