Section 295

Jayesh Khokhani (CS - Trainee) (33 Points)

30 June 2011  

ABC is Private limited company and XYZ is unlisted public limited company, and both the company having one common Director, Mr. D. Now, XYZ gives loans to ABC, and XYZ is associate Company of ABC. Can any one  please clarify if Section 295 is applicable or not? and if Yes, why ? and if No, Why ?