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Applicability of section 185

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(Querist)
11 December 2013 Our company has taken loan from our group company in which directors are same.Can we are violating the provision of Companies Act 2013.Please tell us in the light of General Cirular 18/2013 as soon as possible.
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CMA. CS. CA (Final)Santosh Jha

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CMA. CS. CA (Final)Santosh Jha (Expert)
11 December 2013 the intercorporate loan limit should be 60% of paid up capital plus reserve
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Vishnu Bargoti

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Vishnu Bargoti (Querist)
12 December 2013 Thank you sir
We have follow the section 372A of the Companies Act 1956.I want to know whether secton 185 of the new company act is applicable or not.
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