19 March 2012
Dear Expert, A Private Limited Company has requested a certificate of non applicability of Sec 295 and 372A for submission to bank. My question is whether Sec 372A and 295 applies to Pvt Ltd Co? If no can I give such certificate.
Yes, both section are not applicable to private company unless it is subsidiary of public company. You just give a certificate that such provisions is not apply to company.
CAclubindia
