Sec 372 A of Co's Act, 1956

CA Sahil Singla.. (Service Tax ) (3746 Points)

04 June 2011  

 

Sir
 
It is mentioned in ICAI Module that Sec 372A is not applicable in case of gurantee given by A ltd. in respect of loan made by any person to A's wholly own subsidiary. 
 
So does it mean that Sec 372A is applicable to A Ltd in case of guarentee given by it to it's wholly own subsidiary that is B Ltd for loan granted by B Ltd. to any person ?