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Section 186 of companies act

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 July 2015 well my companyy has given a interest free loan to other companies in the year 2011 .after that there is no add on to the loaned amount .
but as per sec 186 of new act there is a provision regarding interest on such inter corporate loans which was not there in earlier act ...
so does the new provision of interest applies to existing loans ?????
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Pratik Shah

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Pratik Shah (Expert)
18 July 2015 No..It does not apply to existing loans.
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