Gurantee under section 295
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 September 2011
If a public co. goves gurnatee for a loan obtained by a private company from public financial institution, in which there are common directors, whether section 295 applicalbe on this transaction
29 September 2011
Sir,
Definition of Specified persons mentioned in sec 295 includes any pvt company of which any such director is a director or member.
Kindly let me know whether this solution has solved your query.
Regards,
CS Sumat Singhal
Definition of Specified persons mentioned in sec 295 includes any pvt company of which any such director is a director or member.
Kindly let me know whether this solution has solved your query.
Regards,
CS Sumat Singhal
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 September 2011
sir, my question is that whether corprate gurnatee given to a private company for a loan obtained by public financial instituion will be covered u/s 295. i want to know whether Public Financial instution will cover under "person" word in section 295.
07 October 2011
Yes it will be covered
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