A, B and C are closely held family companies. B and C are private limited company while A is a public limited (closed held) company. A has approach ABC Bank for funding while B would provide corporate guarantee. Below is the structure of the companies, request you help in understanding whether section 185 of companies act 2013 would be applicable and if applicable what are the clauses of section 185 are attracted.
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A Ltd (public Limited company) |
B Pvt Ltd (Private Limited company) |
C Pvt ltd (Private Limited company) |
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Mr. X - Director |
Mr. P - Director |
Mr. P - Director |
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Mr. Y - Director |
Mr. Q - Director |
Mr. Q - Director |
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Mr. Z - Director |
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Mr. S - Director |
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C Pvt limited - 40% |
Mr. X - 10% |
Mr. P - 10% |
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Mr. X - 10% |
Mr. Y - 5% |
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Mr. P - 10% |
other family members - 55% |
Mr. X - 20% |
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Mr. Y - 10% |
Mr. P - 10% |
Mr. S -10% |
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Mr. Z - 10% |
Mr. Q - 20% |
Other family members - 60% |
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Mr. S - 10% |
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Other family members - 10% |
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