Loan taken from
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2013
Can any one advice me on this
A public Ltd has taken a loan from One Pvt Ltd company.
is it required to issue a share in Public Ltd to this pvt ltd company in order to regulerise the transaction?
Is there any specific requirement under companies law to be complied for this transaction? kindly let me know wht are the section attracting in this case for public Ltd and for Pvt Ltd.
A public Ltd has taken a loan from One Pvt Ltd company.
is it required to issue a share in Public Ltd to this pvt ltd company in order to regulerise the transaction?
Is there any specific requirement under companies law to be complied for this transaction? kindly let me know wht are the section attracting in this case for public Ltd and for Pvt Ltd.
28 March 2013
Refer Sec 372 A Inter Corporate Loan.
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 March 2013
Mam Section 372 A is not applicable to Private Limited Company
and in this case the loan is taken by public co hence as per my knowledge it will attract 293 1 (d), 297, 299 for the public Company and for the private it shall be as per the articles.
and in this case the loan is taken by public co hence as per my knowledge it will attract 293 1 (d), 297, 299 for the public Company and for the private it shall be as per the articles.
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