I'm on an audit of a company and facing a problem w.r.t to company law and request you to please provide a solution for the same. Here it is:
There are 4 companies with a common direcctor, lets say A,B,C and D.
Now Co A is giving loan to Co B on 2nd June 2015 for rs 9 lacs which was repaid within 2 months and then another loan was given on 18th feb 2016and was repaid in installments by 28th march.
Now as per section 185 of CA,2013 or any other section of the act, is this loan a violation of the act? Or is there anything else that I should look into for this matter.
Waiting for an early reply