Section 185 of companies act
This query is : Resolved
Rupinder Singh
(Querist)
14 November 2014
Dear
Can any body elaborate the above said section.
Regards
Rupinder
Can any body elaborate the above said section.
Regards
Rupinder
CS Mitesh Mehta
(Expert)
14 November 2014
Section 185 of the Companies Act, 2013 which contains provisions dealing with granting of loans & advances and providing of guarantees and securities by a company to its directors and other entities in which directors are interested. This section is applicable both to private and public companies. This section in general prohibits a company to grant loans or advances or provide guarantees and securities, in any manner, to its directors or other entities in which directors are interested subject to few exceptions.
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