Sec 185
This query is : Resolved
12 January 2016
dear sir
p.ltd company is giving guarantee to trust for obtaining loan.one of the directors of the company are acting as trustees of a trust. Whether loan / gurantee given attracts sec.185 of companies act 2013.please clarify. pl.let me know any case law is available for this.
thank u
regards
sreedhar
p.ltd company is giving guarantee to trust for obtaining loan.one of the directors of the company are acting as trustees of a trust. Whether loan / gurantee given attracts sec.185 of companies act 2013.please clarify. pl.let me know any case law is available for this.
thank u
regards
sreedhar
12 January 2016
Dear Sir,
As per Section 185 company can't give loan to Director and person interested in directors.
Person interested in directors doesn't cover trust.
Therefore there is no restriction u/s 185.
As per Section 185 company can't give loan to Director and person interested in directors.
Person interested in directors doesn't cover trust.
Therefore there is no restriction u/s 185.
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill not cancelled within 24 hous what can be due
- GST rate and HSN code for sale of racing horses
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
