https://www.taxtmi.com/manuals?id=422 The provision limits company loans, guarantees and acquisitions of securities by reference to capital and reserves and mandates prior authorization by a special resolution for transactions exceeding those limits; loans must carry at least the prevailing bank rate. Companies must keep a register with debtor or investee identity, amount, terms, purpose and transaction dates. Penalties apply for failure to maintain the register and for other breaches, including fines and imprisonment for officers in default. Exemptions include ordinary course dealings with regulated lenders, securities companies, intra group wholly owned transactions and pro rata allotments to existing shareholders. Investments must be held in the company's own name. en-us Fri, 18 May 2012 11:34:00 +0530 Tue, 22 May 2012 16:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=422 The provision limits company loans, guarantees and acquisitions of securities by reference to capital and reserves and mandates prior authorization by a special resolution for transactions exceeding those limits; loans must carry at least the prevailing bank rate. Companies must keep a register with debtor or investee identity, amount, terms, purpose and transaction dates. Penalties apply for failure to maintain the register and for other breaches, including fines and imprisonment for officers in default. Exemptions include ordinary course dealings with regulated lenders, securities companies, intra group wholly owned transactions and pro rata allotments to existing shareholders. Investments must be held in the company's own name. Manuals Companies Law Fri, 18 May 2012 11:34:00 +0530 https://www.taxtmi.com/manuals?id=422