Can a pvt. ltd. co.give loan to a related pvt. ltd.co.

Pvt ltd 414 views 1 replies

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78 Points Joined January 2012

Dear Friends,

Can a Pvt.Ltd. Co. give Loan to a related Pvt. Ltd.Co. The Director of X Pvt. Ltd. is the brother of Y Pvt. Ltd. Co.

If yes, can at subsidised interest rates??

Replies (1)

Practising Company Secretary

12562 Points Joined May 2011

Hi,

Pls refer to Section 185 of the new Companies Act, 2013 which has come into effect w.e.f 12/09/2013.

if your case falls in any of the clauses mentioned in the explanation, you can not do so without passing a special resolution in the GM..

Hopefully your query is solved...

Regards

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