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of <h1>Loans, Guarantees, and Securities Exemptions: No Company Law Board Approval Needed Post-Exemption u/ss 295 and 370.</h1> The circular addresses whether loans, guarantees, or securities provided by companies previously exempted under sections 295(2) and 370(2) require approval from the Company Law Board once the exemption ceases. It concludes that the provisions of sections 295 and 370 do not apply to these financial arrangements after the exemption ends. Therefore, compliance with these sections is not necessary for the continuation of such loans, guarantees, or securities once the exemption is no longer operative.
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