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    Clarification regarding Section 180(1)(c) regarding borrowing limits

    Posted By : CS Shiriti / Published on : 06-Oct-2020 07:29 AM / View : 551 / Comment : 0

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    Kindly clarify me whether borrowing limits under Section 180(1)(c) covers the corporate guarantee provided by the company to bank on behalf of its subsidiary company.
    E.G. A Ltd.(Holding company) borrowing Limits Rs. 300Cr. Loan taken by A Ltd. is Rs. 200 Cr. B Ltd. (wholly owned Subsidiary of A Ltd.) owed a loan Rs. 150 Cr on the guarantee of A Ltd. Whether the borrowing limit of A Ltd. is required to be increased to Rs. 350 Cr.(Rs.200 Cr. and Rs.150 Cr.) ?
    Read more on : regarding limits borrowing section clarification 1801c

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