Loan to sister Co.
This query is : Resolved
19 April 2011
What is the procedure to be followed by a Pvt. Ltd. Co. while giving a Loan to its Sister Co. ?
Regards,
Devendra K
Regards,
Devendra K
20 April 2011
Restrictions on loan to directors or to any private company in which any such director is a director or member, as specified under Section 295 of the Companies Act, 1956 is not applicable to a private company. So by passing a Board Resolution loan can be granted.
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