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[Cites 0, Cited by 0] [Section 370] [Entire Act]

Union of India - Subsection

Section 370(1G) in The Companies Act, 1956

(1G)[A company, which has defaulted in the repayment of any deposit referred to in section 58-A or part thereof or interest thereupon in accordance with the terms and conditions of such deposit, shall not make any loan or give guarantee under this section till the default is made good.] [ Inserted by Act 5 of 1997, Section 7 (w.e.f. 1.3.1997).]