Mortgage of Property

1015 views
User Avatar

Professional
42 Points Posted on 11 July 2008

hiiiiiiiiiiiiiii  Friends

I have a question regarding inter company Transanction.

My question is that can a company mortgage their property on behalf of other company to the Bank to take loan.

Pls reply as soon as possible

Reply Share Follow
On 11 July 2008 at 14:11 Report
Replies (2)
User Avatar

Chief Financial Officer and Co
11318 Points Posted on 11 July 2008
Originally posted by :Jitender Kumawat
"

hiiiiiiiiiiiiiii  Friends
I have a question regarding inter company Transanction.
My question is that can a company mortgage their property on behalf of other company to the Bank to take loan.
Pls reply as soon as possible

 

Yes subject to section 372A of companies Act 1956

 "


 

Reply
On 11 July 2008 at 14:24
User Avatar

Consultant
63 Points Posted on 15 July 2008

Dear Member

 

Please also check if Company has also been permitted by its AOA or MOA to give security for loans of other companies.

 

regards

 

CS Gaurav Jain

Reply
On 15 July 2008 at 10:10

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Sec 8 company sec 12ab reg
  2. AIS Password: How to Open Your AIS PDF?
  3. Interview Questions
  4. ITR Filing Last Date 2026
  5. Tds - filing Conso File for tax year 2026-27
  6. ITR-3 Filing For AY 2026-27 - Tips
  7. Capital Gain on sale of Depreciated Factory Gala
  8. Interesting Observation from a Recent Income Tax S
  9. ITR 3 Utility Not Taking Marginal Relief on Net To
  10. MV Electrosystems IPO Allotment Date, Status Check

More recent discussions | Post

Related Topics :

Loading
Follow