Recorded organization having a paid-up offer

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ABC Ltd. is a recorded organization having a paid-up offer capital of ' 36 crore and general stores of ' 24 crore. It cravings to make a credit of ' 10 crore to XYZ Ltd. ABC Ltd. holds 60% of the value offers in XYZ Ltd. ABC Ltd. has as of now made interest in and offered credits to different organizations collecting to ' 30 crore. ABC Ltd. has not conferred any default in appreciation of institutional credits then again in reimbursement of settled stores. State whether the organization is qualified to give credit of '10 crore to XYZ Ltd. Would your answer be distinctive if XYZ Ltd. is ABC Ltd's. Completely possessed backup ?

Reference no: EM13864766

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