My Company has taken loan from Bank against the property which held by One of the Group Company, due to common director , the Director act as a guarantor for loan taken. pls suggest 185 and 186 is applicable.. if yes then pls provide me the board resolution asap.
11 January 2020
There is nothing to be considered under sec.185 or 186 on the part of Company that has taken loan. But the Company giving guarantee shall check the provision of 185 and 186. As the question does not provide any details I am unable to provide any comment on the transaction.
CAclubindia
