CAN ANYINE TELL ME WHAT PROVISIONS TO BE SEEN FOR ADVANCE(NOT LOAN)GIVEN BY ONE COMPANY TO ANOTHER COMPANY IN WHICH COMMON DIRECTORS ARE THEIR.(BOTH ARE PVT. COMPANIES)
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Advance given by one co. to another co.
Replies (10)
Read section 180 of companies act 2013 if the company is public company.
NO SIR ITS A PRIVATE COMPANY
then section 180 will not be applicable.
WHAT PROVISION I HAVE TO SEE
no limit dear as on 30 june 2015 section 180 is not applicable on private company.
read section 185
sir
sec 185 belongs to loans to directors know...its not about advance from company to company
inter corporate loan , read section 186
hai sir
186 covers laon but not advance
have you read sec 143(11) though its related to auditing but u will find some of the cases of advances and i think it will be treated as deposit as per the provision of sec 73-76.
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