Legal Question in Business Law in India
Can a subsidiary company can issue Non-convertible debentures to pay the dues of the parent company?
Asked on 6/13/16, 5:13 am
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
13.06.2016
Dear Sir / Madam,
No, a subsidiary cannot issue non-convertible debentures to pay off the debts of the parent company.
Regards,
Answered on 6/13/16, 9:30 am
To answer your question, it is imperative to know the details of potential subscribers to the NCDs. Also, whether the parent company is an Indian Company or foreign company. These and other details are must to satisfactorily respond to your question.
Best,
Answered on 6/14/16, 3:40 am
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