CS Pooja (Company Secretary) (305 Points)
23 April 2011ABC Limited, a closely held unlisted pub co wish to provide security by way of offering its land for the loan of A Private Company in which three Directors of ABC Ltd are Directors in Pvt co and to a partnership firm in which Director of ABC Limied is Partner.
Whether Section 372A will be applicable?
Regards,
Pooja
CA Sandeep Kumar
(Audit Assistant)
(804 Points)
Replied 23 April 2011
Yes, since company giving security is public limited co, section 372A is applicable in this case.
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