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
Thanks for The Information....
Santosh Shah-Nothing new in this circular. Can you pl clarify yr understanding ?
| Originally posted by : Santosh | ||
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Santosh Shah-Nothing new in this circular. Can you pl clarify yr understanding ? |
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Dear Santosh.
If you think there is nothing new, then please ignore.
I have enclosed this clarification just as an update to the members.
When there is ambiguity in Sections, only then MCA issues such clarifications,
which narrows down the ambiguity to that extent.
The reason for such clarification is alredy mentioned in the circular.
regards
Santosh Shah
CAclubindia
