03 February 2012
Hi friends. I have a doubt in sec.372A Intercompany loans. I dont understand the para given in the section.
The section says ceiling limit of Higher of either: 60% of paidup share capital and free reserves 100% free reserves.
Whether this celing limit applicable only to : a)Investments in other body corporate. b)Guarantee , security and Investments in other body corporate. c)Intercompany loans,Guarantee , security and Investments in other body corporate.
CAclubindia
