Section 295
This query is : Open
11 June 2011
Director of Ltd company has applied for loan with NBFC. company is joining as co-applicant / guarantor to the loan.
Should the company get Central Govt clearance
Should the company get Central Govt clearance
12 June 2011
The section 295 is not applicable to
any loan made, guarantee given or security provided-
(i) by a private company unless it is a subsidiary of a public company, or
(ii) by a banking company;
and therefore, Central Gove permission is required. sureshjain.nj@gmail.com
any loan made, guarantee given or security provided-
(i) by a private company unless it is a subsidiary of a public company, or
(ii) by a banking company;
and therefore, Central Gove permission is required. sureshjain.nj@gmail.com
13 June 2011
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