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Can a private ltd co accept loan from its subsidiary Co.

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(Querist)
07 August 2008 Can a Holding private limited company accept loan from its subsidiary private ltd co? As sec 3 prohibits acceptance of deposits from public other than members, directors or their relatives.

Thanks in advance
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
07 August 2008 Intercorporate loans are not deposits. However ensure compliance of section 295 of the companies Act.

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