Inter corporate borrowing between private limited company
This query is : Resolved
05 April 2016
Sir
Mr A is the Director of XYZ Pvt Ltc and ABC Pvt ltd.
Can XYZ Pvt Ltd give loan to ABC Pvt Ltd
Please reply Its urgent
Thanks
Mr A is the Director of XYZ Pvt Ltc and ABC Pvt ltd.
Can XYZ Pvt Ltd give loan to ABC Pvt Ltd
Please reply Its urgent
Thanks
05 April 2016
Yes,
With reference to MCA notification dated June 5, 2015 the following conditions shall be fulfilled:-
(a) in whose share capital another body corporate has invested any money;
(b) if the borrowings of such a company from banks or financial institutions or anybody corporate is less than twice of its paid up share capital or fifty crore rupees, whichever is lower;
(c) such a company has no default in repayment of such borrowings subsisting at the time of making transactions under this section
With reference to MCA notification dated June 5, 2015 the following conditions shall be fulfilled:-
(a) in whose share capital another body corporate has invested any money;
(b) if the borrowings of such a company from banks or financial institutions or anybody corporate is less than twice of its paid up share capital or fifty crore rupees, whichever is lower;
(c) such a company has no default in repayment of such borrowings subsisting at the time of making transactions under this section
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
