Loan to Group Company

This query is : Resolved 

11 March 2009 Ours is a private Limited Company . We have given unescured loan to one of our Group company which is a public limited company .Is it require a board resolution ?
Please help me .

11 March 2009 This proposal does not attract 372A unless it is a subsidiary of public company.But it will come under the perview of Sec 292.
Pass a Board resolution to give effect to the aforesaid transaction.



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