X Company (Lender) has to lend loan to Company Y (Borrower) which do not have common directors but the Directors in the Holding Company of X are also directors in Company Y.
Further the shareholders of Company X ans Y are same.
Please suggest whether X can give loan to Y.
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Section 185 of the Companies Act, 2013
Replies (1)
If the borrowing company (Company Y)is private company then the company X needs to pass SR for this transaction...
But nothing shall apply if providing loan is the the ordinary course of business of company X.
But nothing shall apply if providing loan is the the ordinary course of business of company X.
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