(8)Nothing contained in this section shall apply,-(a)to any loan made, any guarantee given or any security provided or any investment made by-(i)a banking company, or an insurance company, or a housing finance company in the ordinary course of its business, or a company established with the object of financing industrial enterprises, or of providing infrastructural facilities;(ii)a company whose principal business is the acquisition of shares, stock, debentures or other securities;(iii)a private company, unless it is a subsidiary of a public company;(b)to investment made in shares allotted in pursuance of clause (a) of sub-section (1) of section 81;(c)to any loan made by a holding company to its wholly owned subsidiary;(d)to any guarantee given or any security provided by a holding company in respect of loan made to its wholly owned subsidiary; or(e)to acquisition by a holding company, by way of subscription, purchases or otherwise, the securities of its wholly onwed subsidiary.
