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loan by Pvt. Co.?
Can a pvt. co. give loan to another pvt. co. having one common director?
Replies (3)
Yes, a private company can take loan from another private company and this transaction is excluded from the purview of Deposits. However, as per Section 185, a private company cannot given loan to a Private company in which its Director is interested.
then what is sub section 2 of 185 all about?
Section 185(2) Company can give loan to persons in whom directors are interested after passing of Special Resolution however, still there is restriction on loan/ guarantee to directors or relative of Directors.
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