ABC is Private limited company and XYZ is unlisted public limited company, and both the company having one common Director, Mr. D. Now, XYZ gives loans to ABC, and XYZ is associate Company of ABC. Can any one please clarify if Section 295 is applicable or not? and if Yes, why ? and if No, Why ?
Menu
Section 295
Replies (1)
yes sec 295 will be applicable......sec 295 will be applicable if a public company make an loan to a specified person......and specified person includes a pvt co. of which any director(of a lending co) is a director.However if lending co is holding co then said sec. wont b applicable.
Recent Threads
- Form 121 requirement
- Interest on reversal of ITC when ITC balance avail
- Is MirrorFly an Instant Messaging Software?
- ITR filling for legal heir
- How Can I qualify CA Final Exam?
- Wrong reporting on 22 april 2026 under article inc
- Articeship Form 107
- TAN for Multiple States
- Delivery Challan serial number Issue and return ru
- After filing form 71 For TDS mismatch
Related Threads
CAclubindia
