Loans given during the period when it was exempted company have to be considered for computing ceiling - Companies Law - No. 18/73,

Circular : No. 18/73, dated 17 ‑ 7 ‑ 1973. Subject:- Loans given during the period when it was exempted company have to be considered for computing ceiling The loans given by any company during the period when it was an exempted company by virtue of sub‑section (2) of section 370 have to be taken into account while computing 30 per cent ceiling prescribed in second proviso to sub‑section (1) of section 370.