Section 295 of the Companies Act,1956

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2011 A Public Ltd. Company is a Partner in a Partnership Firm and invested its share of Capital.Can it give a further amount to the Partnership Firm as an Advance against Capital?Are there any implication of Section 295 of the Companies Act,1956 in this context?

Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2011 Does investment by a Partner(A Public Ltd. Company) in the Capital of a Partnership come under the purview of Section 295?What about Share Application Money or advance against subscription to Capital?