TaxTMI 
TaxTMI 
INVESTMENT AND LOANS
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....r to any other person, by anybody corporate; and (c) acquire, by way of subscription, purchase or otherwise the securities of any other body corporate, exceeding sixty per cent of its paid-up share capital and free reserves, or hundred per cent of its free reserves, whichever is more. 2. No investment or loan shall be made or guarantee shall be given or security shall be provided unless previ....
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....officer of the company who is in default shall be punishable with fine which may extend to five thousand rupees and also with a further fine which may extend to five hundred rupees for every day after the first during which the default continues Penalty If default is made in complying with the provisions of this section, other than sub-section (5), the company and every officer of the company w....
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....rtion, as nearly as circumstances admit, to the capital paid-up on those shares at that date To any loan made by a holding company to it's wholly - owned subsidiary To any guarantee given or any security provided by a holding company in respect of loan made to its wholly- owned subsidiary To acquisition by a holding company, by way of subscription, purchases or otherwise, the securities of its ....