Legal Question in Business Law in India
Company A holds 49% in Company B.
Both are Public limited company
Company A's Managing Director is also a Director in Company B.
The question is whether Company B can give loan to Company A and whether the same will attract section 295(1)(e) of the companies act.
3 Answers from Attorneys
This query was framed in a different fashion and adviced too.
You may contact me with Memorandum/ Articles of Association of both A & B with a Statement of Directors of A and B and the relationship between all directors of A ( including the Managing Director) and all directors of B.
Whether A & B have any business contact with each other etc
The " structure" of the loan transaction also will have to be examined.
You may contact me for a paid opinion with above details at: [email protected]
Phones: 98403 20808 /28515229
warm regards
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