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Section 185

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 December 2013 ABC Pvt. Ltd. (Holding Co.) is giving guarantee to secure credit facility availed by XYZ Pvt. Ltd. ( Subsidiary Co.) from Bank by way of CCH facility.
Is that prohibited as per section 185 of Companies Act 2013 .

Please reply.
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Ajay Mishra

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Ajay Mishra (Expert)
23 December 2013 Hi

As per my understanding, the provision deal with loan to director of guarantee given against loan relating to director.

In your case the provision of section 185 is not applicable.
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