section 295

This query is : Resolved

reena boricha (Querist)
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04 June 2009 i do audit of limited compnay which has subsidairy co. but in f.y.2008-2009 now it is not subsidairy co. i give loan to it now requried to take apermission of central gov. for giving loan

Ankur Garg

Ankur Garg (Expert)
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09 June 2009 Hello Reena,

Not able to understand your problem correctly. Can you please elaborate with some example by using A ltd. or B ltd etc.

Regards

CS Vivek Hegde

CS Vivek Hegde (Expert)
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11 June 2009 if the loan is given when it is a subsidiary u need not take the CG approval...

If u r giving loan nw afresh u hav to take if such loan is covered by section 295(1)(d) or (e)

rgds

Vivek

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