Sec 372 A of Co's Act, 1956

1009 views 2 replies

 

Sir
 
It is mentioned in ICAI Module that Sec 372A is not applicable in case of gurantee given by A ltd. in respect of loan made by any person to A's wholly own subsidiary. 
 
So does it mean that Sec 372A is applicable to A Ltd in case of guarentee given by it to it's wholly own subsidiary that is B Ltd for loan granted by B Ltd. to any person ?
Replies (2)
yes, u r correct. Wholly owned subsidiaries are exempt u/s 372A

sir

U have not understood my question .

My question is whehter exemption u/s 372A(8) still there in case of guarantee given by a Co. to it's wholly own subsidiary for a laon given by a subsidiary to any person. ?

bcoz there is no mention of the ICAI module & Munish bhandari sir's buk....both says that exemption is there in case of guarntee given by a Co. to a person for loan given to Co's wholly own subsidiary .....but they didn't mention about recerse case ?

plz try to understand my question 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
14 July 2026
Senior Executive/ Manager

H S SHARMA AND CO

Pune

CA Final

View Details
Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 11 July 2026
Article

SNCO

Mumbai

CA Inter

View Details