ICICI

Loans By Company Applicable to Pvt Co in Companies Act, 2013


Sneha (Company Secretary)     18 September 2013

Sneha
Company Secretary 
 285 likes  1594 points

| My Other Post

Presently provisions of Section 372A of Companies Act 1956 relating to Inter-corporate loans and investments are not applicable to private companies

 

However, now corresponding new Section 186 of Companies Act 2013 relating to Loan and investment by company. (which is yet to be made effective) has taken away such exemption from private companies   Compliance on the part of private companies will increase substantially.


 

5 Like

Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com )     18 September 2013

Dipjyoti Majumdar
CA in service & CS. dipmaj@ rediffmail.com  
 200 likes  3414 points

View Profile | My Other Post

Also, Sneha, as pointed out by learned Mr. P.C.Agrawal in this forum,private companies cannot give loans to directors except under special cases under section 185.

Regards,

1 Like
avater

Ajay Mishra (Company Secretary)     18 September 2013

Ajay Mishra
Company Secretary 
 4447 likes  74237 points

View Profile | My Other Post

Good ovservation Sneha......

 

The private company  ans wholly owned subsidiary words has be deleted under section 186 of new CA, 2013 in comparission to section 372A of the CA, 1956.

1 Like
avater

Sneha (Company Secretary)     19 September 2013

Sneha
Company Secretary 
 285 likes  1594 points

View Profile | My Other Post

Yes, Dipjyotiji..absolutely..

Thanks Ajayji.. :)

DS Sajwan (MBA)     07 October 2013

DS Sajwan
MBA 
 58 points

View Profile | My Other Post

Thanks for share.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Popular Discussion


view more »