Applicability of section 295

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 April 2012
Whether provisions of section 295 applicable to Inter-corporate loans between group companies, having similar Directors

CS Mitesh Mehta (Expert)
Follow

05 April 2012 Yes

The provisions of section 372A apply to the loans, guarantees and securities to which section 295 applies.

CA Kishore Tallam (Expert)
Follow

05 April 2012 Yes. But if the company is a private company which is not a subsidiary of a public company, then sec 295 is not applicable.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Unanswered Queries

view all classess