Loan to subsidiary
This query is : Resolved
28 May 2012
Dear Experts,
Our client, a Pvt Ltd company has given loans to its subsidiary (Pvt Ltd) co.
However, Parent company does not charge interest on the said loan.
What provisions will get attracted to the Parent Company under Companies Act, 1956?
Thanks & Regards,
Akash Shukla.
Our client, a Pvt Ltd company has given loans to its subsidiary (Pvt Ltd) co.
However, Parent company does not charge interest on the said loan.
What provisions will get attracted to the Parent Company under Companies Act, 1956?
Thanks & Regards,
Akash Shukla.
29 May 2012
Under the companies act you have to mention whether the same has entered in the register maintained under section 301 of the companies act. You have to see the terms and conditions of the loan and see whether the same is prejudical to the interest of the company.
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