Poonawalla fincorp
Poonawalla fincorp

Sec 372a of companies act,1956

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 August 2012 hii,
I just want to know whether Sec 372A limits applicable on corporate guarantee and bank guarantee given to customers/vendors.

and also want to know whether any loans given to customers/vendors.
becaz i heard that Sec 372A applicable only on related companies/group companies/ subsidiary etc.

pls give me your expert opinion in this
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
31 August 2012 Guarantee and Security related to loan is covered and not gurantee in course of business.
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Querist : Anonymous

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Querist : Anonymous (Querist)
31 August 2012 But i want to know whether this applicable on customers/ vendors or not.
and also on CG and BG.
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Querist : Anonymous

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Querist : Anonymous (Querist)
31 August 2012 for Eg. We given CG and BG on behalf of our vendors.
Whether sec applicable or not . give me proper explntion.

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