Sec 86 company act 2013

Co Act 2013 1044 views 1 replies

Membes

What would be position of existing intercorporate loans,guarantees and investment after 31.03.2014 i.e applicapability of Section 186 of CA 2013. Are existing things need to be regularised/complied or earlier special resolutions/compliances will prevail ?

Thanks for your valuable advice
Replies (1)

Existing  loans etc. can continue till such time there is not even  slight change in the terms & conditions.  The moment there is any change, new provisions will apply.  But it would be advisable to pass special resolution u/s 180 at the earliest.  MCA has put a time limit of 1 year,  i.e. upto 11.9.2014 on the validity of earlier resolution under CA 1956.

 

 


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