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Section 295 of Companies Act 1956

(Querist) 04 February 2011 This query is : Open 
Hi

can any one provide me clarification on two queries

1. A public company Director is partner in firm B. The Firm B provides loan to another firm in which a company director is also partner. wheather section 295 of the Companies Act 1956 apply

2. A public company wants to acquire shares of another Pvt Co. under section 395 of companies Act. wheather capital gain is payable in such transfer


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