Sec 372 A of Co's Act, 1956

MCA 496 views 1 replies

CA Sahil Singla..

Service Tax

3746 Points Joined August 2008

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 (1)

moon.

CS and CA final

146 Points Joined September 2009

Section 372 A is not applicable in case of any loan made,guareentee, given or any security provided or any investment made by a holding co to its wholly owned subsdiary company.

Regards.