Section 185 and 186 of companies act 2013
This query is : Resolved
29 June 2015
Dear all
please advice on this.
since the notification exempting the private companies from few section of ca 2013 has been issued, the provision of section 185 are not applicable to private limited company ( subject to fulfillment of certain conditions).
so now private ltd company can give loans to director or relative etc.
My question is
1) do we have to check the applicability of section 186 on loan given to director or their relatives
thanks in advance
please advice on this.
since the notification exempting the private companies from few section of ca 2013 has been issued, the provision of section 185 are not applicable to private limited company ( subject to fulfillment of certain conditions).
so now private ltd company can give loans to director or relative etc.
My question is
1) do we have to check the applicability of section 186 on loan given to director or their relatives
thanks in advance
01 July 2015
Yes, you also need to see provisions of Section 186, as it deals with giving loan, guarantee to any other company/body corporate/person.
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