Upgrad LLM

unsecured loans


Does sec269SS/T applicable in case of Holding and Subsidiary company?i.e If a company "X" holds 98% shares in another company "Y" ,(Here in after referred as Subsidiary company),Then Can "Y" accept a fresh loan of rs 2000000(2Lakhs) in CASH  from company "X" ?Plead an early reply! Thanks in advance

 
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QUERY: Is sec269SS/T applicable in case of Holding and Subsidiary company?i.e If a company "X" holds 98% shares in another company "Y" ,(Here in after referred as Subsidiary company),Then Can "Y" accept a fresh loan of rs 2000000(2Lakhs) inCASH  from company "X" ?

REPLY: No, both being, in law, different 'persons', and not being exempted by law. 


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if I'm not able to pay loan due to job loss what are my options
 
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