Sec. 185 of companies act 2013
This query is : Resolved
27 March 2014
DEAR ALL
PLZ. REPLY
THERE IS A PVT. LTD. COMPANY NAMED ABC PVT. LTD. ONE OF ITS DIRECTOR IS MR. D.
MR. D IS ALSO DIRECTOR IN DEF PVT. LTD.
DEF PVT. LTD. TAKES LOAN FROM XYZ. LTD.
WHETHER ABC PVT. LTD. CAN PROVIDE CORPORATE GUARANTEE TO XYZ. LTD. IN RESPECT OF LOAN TAKEN BY THE DEF PVT LTD. FROM XYZ.LTD. IT IS TO BE NOTED THAT PROVIDING LOAN OR GUARANTEE IS NOT ORDINARY BUSINESS OF ABC PVT. LTD.
PLZ. REPLY
THERE IS A PVT. LTD. COMPANY NAMED ABC PVT. LTD. ONE OF ITS DIRECTOR IS MR. D.
MR. D IS ALSO DIRECTOR IN DEF PVT. LTD.
DEF PVT. LTD. TAKES LOAN FROM XYZ. LTD.
WHETHER ABC PVT. LTD. CAN PROVIDE CORPORATE GUARANTEE TO XYZ. LTD. IN RESPECT OF LOAN TAKEN BY THE DEF PVT LTD. FROM XYZ.LTD. IT IS TO BE NOTED THAT PROVIDING LOAN OR GUARANTEE IS NOT ORDINARY BUSINESS OF ABC PVT. LTD.
27 March 2014
From the transaction, it can be said that giving of guarantee by ABC PVT LTD TO XYZ PVT LTD is prohibited for the loan taken by DEF PVT LTD...
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
- Exiting partner in partnership firm in gst portal
- CLOSING STOCK QUERY
- TDS _Long term Capital Gain ref.sec 214 Table 2
- F&O reporting in ITR
- Residential status of non resident
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
