If a private limited company invests in continuation and some amount in working capital in a LLP in which director is also partner then what are the compliances required under companies act except section 185 &186
And if the company got a share of profit and interest on capital also from LLP.. h
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Investment by company in llp
Replies (3)
For better compliance ,You can take note In board meeting and disclose in Board Report ,Director is A Partner so LLP is a Related Party but Investment in form of working capital is out of purview of 188...and 185,186 is not applicable to private companies ( subject to compliance of certain stipulations )
Thank you sir,. but in my view exemption can be availed only by complying with three conditions stated in section
And in my case the company is crossing second conditions.
And body corporates includes LLP
And in my case the company is crossing second conditions.
And body corporates includes LLP
No Exemption from 185 and 186 is same,viz .
A. No one is a Corporate Shareholder in Cos. ROM
b. Cos. Loan from Banks/FI AND ANY OTHER BODY Corporate is not exceeding either twice of paid up capital or 50 crore
c.you have not defaulted in servicing that loan
Here LLP is reciever so 185/186 is not triggering.
A. No one is a Corporate Shareholder in Cos. ROM
b. Cos. Loan from Banks/FI AND ANY OTHER BODY Corporate is not exceeding either twice of paid up capital or 50 crore
c.you have not defaulted in servicing that loan
Here LLP is reciever so 185/186 is not triggering.
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