and subsidiaries intended to be covered by sec 185?
which the very purpose for which they exist.
case the borrower company is economically under the reign of the directors.
board of the subsidiary acts as per instructions of the board of the lender.
course of business”. One wonders: what is the basis of this conclusion?
have existed for almost 60 years without implying any disharmony at all.
will use its powers under sec 462 to exempt situations that warrant exemption.
Can a foreign holding company give loans to its subsidiaries, as restriction under section 185(1) seems to apply only to companies – ie Indian companies.
However, the mca circular uses the term 'holding company' which means a body corporate.