Apllicability of sec. 185 of companies act,2013.

This query is : Resolved

Sujeet Italiya (Querist)
Follow

03 May 2014 I want to know that in which FY Sec 185 of Companies Act,2013 is applicable. Because in my company Directors loan and interCompany loan has been stand in F.Y. 2013-14 which is prohibited in Sec 185. so what is a solution for that.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

03 May 2014 section 185 applies wef from 12 September 2013. no new transaction barred by 185 should be effected after this date and transactions entered into earlier should not be renewed.

Message likes : 1 times

Sujeet Italiya

Sujeet Italiya (Querist)
Follow

03 May 2014 Sir a inter group company loan is also there so it also cause a problem or not????Because a clarification is not there. Sec 372 of the companies act,1956 allowed for inter company loan but it is prohibited in sec. 185 of companies act,2013. So plz tell me whether inter group company loan which is occured after 12.09.2013 is allowed for fy 13-14 or not???

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

03 May 2014 if it has occurred after 12 september 2013, then it is not allowed.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SARAVANAN PALANISAMY

GST Karimnagar state

Darshan

Krishnamohan Gangaraju

CA Bijo scaria

Subscribe Now

Apllicability of sec. 185 of companies act,2013.

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA