Section 185

Yes, as per the Companies Amendment Act 2017 to section 185 (effective from 3rd January 2018), A company may advance any loan subject to conditions that 

(a) a special resolution is passed by the company in general meeting:

Provided that the explanatory statement to the notice for the relevant general meeting shall disclose the full particulars of the loans given, or guarantee given or security provided and the purpose for which the loan or guarantee or security is proposed to be utilised by the recipient of the loan or guarantee or security and any other relevant fact; and

(b) the loans are utilised by the borrowing company for its principal business activities. 

Originally posted by : Yash Lahoti
	Yes, as per the Companies Amendment Act 2017 to section 185 (effective from 3rd January 2018), A company may advance any loan subject to conditions that  (a) a special resolution is passed by the company in general meeting: Provided that the explanatory statement to the notice for the relevant general meeting shall disclose the full particulars of the loans given, or guarantee given or security provided and the purpose for which the loan or guarantee or security is proposed to be utilised by the recipient of the loan or guarantee or security and any other relevant fact; and (b) the loans are utilised by the borrowing company for its principal business activities.

It is yet to be made effective . The provisions are still not applicable