02 January 2015
Directors of company A are neither directors nor Members in Company B. However one member holds 46% shares in company A and 99% in company B and He also a Director in Company B. Whether Company A can offer corporate Guarantee as per section 185 of the companies act 2013
16 January 2015
if the person with common holding in both company A and B is also a director in the company A and B then there is a contravention of section 185 which may lead to a penalty not less then5 lacs but which may extend to 25 lacs... Otherwise not...the Point to notice here is Director and not the memeber
CAclubindia
