Easy Office
LCI Learning

Loan by one comapany to another company

This query is : Resolved 

03 March 2009 There is one company having carried forward depreciation loss. It had sold off all the immovable properties and deposited the proceeds in Fixed Deposit with Bank.

Now whether this company can give unsecured loan to another company by pre maturing the fixed deposits ?? If yes whether any legal formalities are required under companies act......

03 March 2009 Check the provision of Sec 372A of companies act for inter corporate loans.

03 March 2009 Also check whether the M.O.A permits and the A.O.A contains any clause/restrictions on this matter.




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

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query