Section 185 of the companies act 2013 - clarification
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
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
02 January 2015
I don't see any consequences in that.
Please wait for other expert views.
Regards
CA Ayush Agrawal
Please wait for other expert views.
Regards
CA Ayush Agrawal
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Itr 1 processing
- Reporting Income under Section 44ADA
- Building and other construction workers welfare cess act 1996
- ITR 1: Details for showing Exempt Income
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- ITR validation error - Balance sheet is not filled
- Bank Accounts in Balance Sheet for ITR 3
- TDS ON CASH WITHDRAWALS...
- Annual return of gst limit
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
