Sec 295 urgent query

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divita agarwal (Querist)
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31 May 2014 it says that sec 295 doesnt't apply if the loan is given by a public co to another public co. But than it says that it applies if loan is given by a public co to a body corporate of which not less than 25% of the voting power is exercised by such director.

my question is that does the definition of body corporate includes "public co." too?

Amol S Joglekar

Amol S Joglekar (Expert)
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31 May 2014 body corporate includes public company...(why it is said that sec 295 does not apply,,,,,is for the reason that in very few cases 25% of the voting power is likely to be concentrated in one hand in the case of public company)