ABC Limited, a closely held unlisted pub co wish to provide security by way of offering its land for the loan of A Private Company in which three Directors of ABC Ltd are Directors in Pvt co and to a partnership firm in which Director of ABC Limied is Partner.
Whether Section 372A will be applicable?
Regards,
Pooja
Yes, since company giving security is public limited co, section 372A is applicable in this case.
372A is applicable
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