as per section 186(2) of CA, 2013 the term include any person so does it means that the company required to take authorization even if it Give loan to its Director or Employees or Any other individual??????
and section 185 also covers Loan given to the Director of the company by the company so the company is required to comply with requirement of Section 186 in case of loan given to the Directors or the company is Required to comply only section 185 in such a case????
Pl refer my article on the same:
/articles/faqs-on-section-186-of-companies-act-2013-20499.asp#.U3sK8lKKDIU
Hi,
loan to directors is completely restricted undet section 185....
loans to employees or any individual ( not related to directors as covered in sec 185) will be covered under section 186....
| Originally posted by : Vandana J Doshi | ||
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Hi,
there is no any restriction in section 186 that it will not applicable to the loan to Director as covered in section 185 of the CA, 2013. in case of Loan to Directors Section 186 not applicable because of the Interpretation of First lineof the Both the Sections/ |
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Hi Arun,
I feel that their is a clash between the first two lines of section 185/186...but as per my understanding, sec 186 is a general provision and 185 is a specifc and stricter provision.....so as per rule, a stricter and specific provision will always overrule the general one.....however, this is my view....others views are welcome....
Regards
| Originally posted by : Vandana J Doshi | ||
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Hi Arun, your view is right as i have also same view about it thanks |
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