Are the provisions of Sec 372A applicable to Govt. Cos.? Earlier , with approval of State Govt. a state PSU could give loans to other entities .
d b prasad (manager) (31 Points)
18 March 2010Are the provisions of Sec 372A applicable to Govt. Cos.? Earlier , with approval of State Govt. a state PSU could give loans to other entities .
HARDIK
(COMPANY SECRETARY NCFM (Corporate Governance ))
(664 Points)
Replied 18 March 2010
Hi
Section 372A(8) provides exception to which this section does not apply. Liky anyother company provision of this section equally apply to Govt. Companies.
CS Jithesh (ACS,)
(COMPANY SECRETARY )
(485 Points)
Replied 02 June 2010
Abosultely agreeing with the learned member
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