Respected Sr/Mam
"Save as otherwise provided in this Act, no company shall, directly or indirectly,
advance any loan, including any loan represented by........" please explain the meaning of "Save as otherwise provided in this Act" given in section 185 of the companies act.
The words "Save as otherwise provided in this Act" given in section 185 of the companies act signifies "except as provided in the Act" which means Co. can give loan on the basis of some specific provisions as may be provided by the Act which will be construed that such giving loan is not contravention of the provisions of section 185.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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