Money Advanced to Subsidiary GVL for Power Project Deemed Business Purpose Due to Commercial Expediency.

Whether the advancement of money to the subsidiary can be said to be for the purpose of business? - Held Yes - the advancing of money to GVL for setting up of the power project was driven by commercial expediency and therefore, was for the purpose of business. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X