Section 295
This query is : Resolved
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 ?
12 April 2012
If Z is a private company, then sec 295 is not applicable.
12 April 2012
ok..Thanks a lot
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?
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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