Section 185 of companies act 2013
This query is : Resolved
28 November 2013
Company – I
Rajarathnam Construction Private Limited
Company -2
Diamond Flush Doors Private Limited
Name of the Directors are same
Mr. A. Rathinam
Mrs. R. Baptista
List of shareholders
Mr. A. Rathinam - 90 % in Company 1
Mr. A. Rathinam - 5 % in Company 2
Mrs. Bapitsta - 6 % in Company 1
Mrs. Bapitsta - 5 % in Company 2
M/s. Rajarathnam Construction Private Limited - 90 % Company -2
Mr. R. Neil Wilson - 2 % in Company 1
Mr. R. Daniel Nixon - 2 % in Company 1
Now we are approaching Bank for Term Loan in the name of Company – 1
Can we mortgage company 2 Land and Building for availing this loan?
If Company- 2 can offer its Corporate Guarantee to company – 1 for availing this loan ?
If Company-2 Directors are offer their personal Guarantee for availing loan by Company – 1
Section of 185 of Companies Act 2013 is applicable for this transactions
Company – I
Rajarathnam Construction Private Limited
Company -2
Diamond Flush Doors Private Limited
Name of the Directors are same
Mr. A. Rathinam
Mrs. R. Baptista
List of shareholders
Mr. A. Rathinam - 90 % in Company 1
Mr. A. Rathinam - 5 % in Company 2
Mrs. Bapitsta - 6 % in Company 1
Mrs. Bapitsta - 5 % in Company 2
M/s. Rajarathnam Construction Private Limited - 90 % Company -2
Mr. R. Neil Wilson - 2 % in Company 1
Mr. R. Daniel Nixon - 2 % in Company 1
Now we are approaching Bank for Term Loan in the name of Company – 1
Can we mortgage company 2 Land and Building for availing this loan?
If Company- 2 can offer its Corporate Guarantee to company – 1 for availing this loan ?
If Company-2 Directors are offer their personal Guarantee for availing loan by Company – 1
Section of 185 of Companies Act 2013 is applicable for this transactions
28 November 2013
Section 185 and 186 is not in operation, section 295 and section 372A will in force as per MCA Circular.
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