Section 295

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Saket Ketkar (Querist)
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12 April 2012 If a company " X " lends to company " Y " and company " Z " provides the security or gives the guarantee for that loan;where company " Z "is the subsidiary of company " Y " .Will the provisions in Sec.295 apply hereby ?

CA Kishore Tallam

CA Kishore Tallam (Expert)
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12 April 2012 If Z is a private company, then sec 295 is not applicable.

Saket Ketkar

Saket Ketkar (Querist)
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12 April 2012 ok..Thanks a lot

Saket Ketkar

Saket Ketkar (Querist)
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12 April 2012 There is one more querry Kishore w.r.t my aforesaid question.

1) If the borrower company is a private company and the subsidiary company is a public limited company which also provides the security or guarantee for the former's borrowing. Will 295 apply?

2)If the borrower company has an associate which provides for the security or guarantee . Will 295 apply or not?

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