Originally posted by : Ankit Sahu
	q 2 a. sec 293 is applicable.sec 292 authorised the MD to Borrow,invest or loan.ans should be 100+300=400 less 150 (only secured loan)=250,so that for balance 350 cr consent of members r required.correct if m wrong.

u  r  completely  right  just  u  need  to put  a note  that   unsecured  loans  are  assume  as  temperory   loans  or  else  else  u can  write  assuming that  unsecured  loans  are  not  temperory  loans  in that   case    total  loan  is  250   and  u need a  approval  of  GM   for  450  cr 

Originally posted by : RAAM SINGHANIA
	all u r  saying  is  right  about  sec  372 a  ,  but answer me  the  question 1.  who  want  the  loan :-  company  , what  section  372  a  speaks  for  providing  loan  who  is  providing  loan  bank  , its  come  under  the  banking  regulation  act  ...so  the  bank  need to  evaluate  the  praposal  from  companies  act  point  of  u   2.  sec  292  gives  md  a  delegation  to get loan  3. sec  293 1  d   provide  for  the  loan   so  from where  the  question  of  372  a  comes  ,  if  it  is  a  company  rather than  bank  which  is  providing  loan  then  we  need to  look for  sec  372 a  , if  its  bank  why  it  will  consider  for  sec  372 a  and  company  which  is  asking  loan  its  gets  it  under  sec  292  and  293  d 1   why  u  guys  are  getting  confused  , first  make  the  assessment  who  want the  loan  and  and  who is  providing  the  loan  , regarding  whom  u need to assess  the  stiuation  and  second and  most  imp  is  which  provision  apply

Yes I agree with you,many people have committed this mistake.

if  sec  .372 a  is  suppose to be applied  details  of  bank  is  given  and  again  in that  case  its  should not be  bank  it  should be  company  under companies  act

 for  sec  q.1.c.  the  point  raise  is  not  right , there are  two  ways 

1.  is  ghansham  is  suppose to be  deal  on his  own  and  on behalf  of  clients  then is  permissible

2. if  its  on bahalf  of  company  and  investors  and  company want to do so  its  not  permissible

450 cr  specical resolution  in  anuunal  metting  sec  292 

@ Ram--

dude sec it should be sec 293 and no special resolution is required.ordinary resolution would suffice...

and 1 more thing.....we r acting on behalf of the bank in that question.....wat shud the bank do??as it is not required to have knowledge about the powers of the board.....

agree to u ordinary  resolution  will work ...

under sec  292  bank need to know does  director had a power to do this 

and  rest  of things  lets  its  get over we will discuss after 16  there are many  more to discuss 

KYA SAB KO 1 QUESTION ME HI DOUBT H?

MR. BHATTACHARYYA..

BAKI QUESTIONS KA KYA HAL H, DEAR.

 PLEASE UPLOAD LAW PAPER

answer given to q 1 ( C) BY  MR RAAM IS ITHINK CORRECT REFER MUNISH BHANDARI'S SIMILAR QUESTION IS GIVEN WITH ANSWER.

RAM IS RIGHT HERE 

DEAR ANUP I ALSO MADE THE SAME MISTAKE WHICH YOU DID

WROTE ALL THE PROVISIONS OF SECTION 372A WHICH WAS NOT FOR TAKING LOAN 

IT IS ONLY FOR MAKING INVESTMENTS AND LOANS ( I.E ASSET SIDE LOANS )

THIS QUESTION WAS FOR TAKING LOAN FOR WHICH ONLY SECTION 293 SPEAKS OUT 

PURE 8 MARKS DOOB GAYE MERE YAAR :(

GOT EXEMPTION IN LAST ATTEMPT IN LAW 

SURRENDERED IT 

NOW NOT HOPEFUL TO GET MORE THAN 55