Section 185 of company act 2017

Pvt ltd 144 views 2 replies
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Accountant
189 Points Joined January 2009

by virtue of Company Act, 2017- Section 185, a private limited company can give loan to its MD / WTD.

A special resolution is required to approve the loan and that has to be filed by MGT 14.

My query is whether resolution filing by MGT 14 is mandatory for all private limited companies?

 

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On 28 June 2022 at 19:38 Report
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All special resolutions have to be filed in MGT-14, whether it be a private or public company.

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On 29 June 2022 at 20:34
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Professional
1979 Points Joined December 2017
185 is not applicable for private companies by exemption not dated 06/2015 ,subject to certain conditions

a. No body corporate is member
b.Loan from banks/fi is <2x of paid up capital or 50 cr
c.No default in repayment of loan
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On 05 July 2022 at 19:16


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