section 295

This query is : Resolved 

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

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

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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