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nuli swami ayyappa (ARTICLE STUDENT)     26 November 2013

Unsecured loans

Does sec269SS/T applicable in case of Holding and Subsidiary company?i.e If a company "X" holds 98% shares in another company "Y" ,(Here in after referred as Subsidiary company),Then Can "Y" accept a fresh loan of rs 2000000(2Lakhs) in CASH  from company "X" ?Plead an early reply! Thanks in advance



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 2 Replies

R RAJAGOPALAN (ADVOCATE)     29 November 2013

QUERY: Is sec269SS/T applicable in case of Holding and Subsidiary company?i.e If a company "X" holds 98% shares in another company "Y" ,(Here in after referred as Subsidiary company),Then Can "Y" accept a fresh loan of rs 2000000(2Lakhs) inCASH  from company "X" ?

REPLY: No, both being, in law, different 'persons', and not being exempted by law. 

1 Like

vinaya sm   26 September 2019

if I'm not able to pay loan due to job loss what are my options

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