Whether provisions of sub-section (1) have to be complied with by exempted companies on their ceasing to be so https://www.taxtmi.com/circulars?id=10800 The Department advised that transactions (loans, guarantees or securities) made or provided by companies while exempt under section 370(2) remain outside the operative scope of section 370 after the exemption ceases, and therefore Company Law Board approval is not required to continue such instruments. en-us Wed, 24 Feb 1971 00:00:00 +0530 Fri, 17 Jun 2011 11:09:00 +0530 TaxTMI RSS Generator Whether provisions of sub-section (1) have to be complied with by exempted companies on their ceasing to be so https://www.taxtmi.com/circulars?id=10800 The Department advised that transactions (loans, guarantees or securities) made or provided by companies while exempt under section 370(2) remain outside the operative scope of section 370 after the exemption ceases, and therefore Company Law Board approval is not required to continue such instruments. Circulars Companies Law Wed, 24 Feb 1971 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10800