Sir/Ma'am, Y Ltd holds 75% of the share capital of X Ltd. , so X Ltd. is a subsidiary of Y Ltd. but not an Wholly Owned Subsidiary. Now , the holding company Y Ltd has granted loans to X Ltd. Rs 1 crs. Is this loan a violation of section 185(C) of the companies (amendment) act,2015 given that there are no common directors between the two companies? Or is this loan exempted/permissable under section 185 of the Companies Act,2013 as it was under section 295 of the companies act,1956? Thanking you in anticipation Mayank Agarwal
CAclubindia
