Companies (Amendment) Act, 2000

142. Amendment of section 295.-

In section 295 of the principal Act,-

(a) in sub-section (1), in clause (e), the words "managing agent, secretaries and treasurers," shall be omitted.

(b) in sub-section (2),-

(i) for clause (b), the following clause shall be substituted, namely:-

"(b) any loan made by a holding company to its subsidiary company;";

(ii) for clause (c), the following clause shall be substituted, namely:- "(c) any guarantee given or security provided by a holding company in respect of any loan made to its subsidiary company.";

(c) in sub-section (4), for the words "five thousand rupees", the words "fifty thousand rupees" shall be substituted.

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