Loans and guarantees exemption: holding company support to wholly owned subsidiaries allowed if utilised for principal business activities. Rule 10, now omitted, previously exempted loans by a holding company to its wholly owned subsidiary and guarantees or securities by a holding company in respect of loans to its wholly owned subsidiary or loans from banks/financial institutions to a subsidiary from the section's requirements, conditional on the subsidiary utilising the funds for its principal business activities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Loans and guarantees exemption: holding company support to wholly owned subsidiaries allowed if utilised for principal business activities.
Rule 10, now omitted, previously exempted loans by a holding company to its wholly owned subsidiary and guarantees or securities by a holding company in respect of loans to its wholly owned subsidiary or loans from banks/financial institutions to a subsidiary from the section's requirements, conditional on the subsidiary utilising the funds for its principal business activities.
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