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.