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
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