can private company enjoy exemption from section 185 after fulfilling following conditions

(a)Company does not have any other body corporate invested in its share capital;
(b) Company does not have borrowings from banks / financial institutional over two times its paid up share capital or fifty crore, whichever is lower; and
(c) Company has not defaulted in the repayment of such borrowings subsisting at the time of making such transactions under Section 185.