16 September 2013
My Company has taken a term loan during the financial year 2012-13 from HDFC Ltd. Will 269SS apply to it. If no, why. (As per research done by me - HDFC LTd. is not a Public Financial Institution)
16 September 2013
SECTION 269SS IS NOT APPLICABLE IF LOAN IS TAKEN FROM A BANKING COMPANY.. A BANKING COMPANY IS A COMPANY ON WHICH BANKING REGULATION ACT APPLIES. AS PER MY KNOWLEDGE HDFC LIMITED IS GOVERNED BY BR ACT, HENCE, 269SS SHALL NOT APPLY.
CAclubindia
