S.372A(8) - Inapplicability

CA Ankit Gulgulia (Jain) (B.COM (H) FCA CIFRS CBV R-ID (IICA) R. Valuer (IBBI))   (5842 Points)

19 December 2010  

As per S.372A(8) ,

 

Nothing contained in this section shall apply,—

             (a)   to any loan made, any guarantee given or any security provided or any investment made by—

         (i)   a banking company, or an insurance company, or a housing finance company in the ordinary course of its business, or a company established with the object of financing industrial enterprises, or of providing infrastructural facilities;

 

Query

Since Companies Act Does not Defines "Infrastructural Facilities" , whether a company providing Ancillary services to "Telecom Sector" can be Classified in it ?

Regards

Ankit Gulgulia