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. |