Companies act 2013 -amendment of sec.185 - loan to director
This query is : Resolved
29 March 2017
This is a request for guidance - We are running a private limited company, which is registered under Delhi ROC. Can you please let me know what are the procedures which we need to follow U/s 185 C.A 2013 for providing loans of Rs.5 Lac to one of our company director.
Our company which satisfies the following conditions:
(a) In company capital no other body corporate has invested any money, i.e., its shareholder does not include any body corporate;
(b) Campany hasn't any liability in terms of any borrowings from banks or financial institutions or any body corporate
Please do let me know your valuable suggestion and guidance.
Our company which satisfies the following conditions:
(a) In company capital no other body corporate has invested any money, i.e., its shareholder does not include any body corporate;
(b) Campany hasn't any liability in terms of any borrowings from banks or financial institutions or any body corporate
Please do let me know your valuable suggestion and guidance.
CS Mitesh Mehta
(Expert)
29 March 2017
Provisions relating to loans to directors is inapplicable to your company.
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29 March 2017
Thank you for your reply sir.
Can you elaborate the content please.
It explicit, we shall not follow any procedure for this?.
Can you elaborate the content please.
It explicit, we shall not follow any procedure for this?.
29 March 2017
Can give. No restrictions. See MCA notification dated 5-6-2015.
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