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Section 185 violation?

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CA IN PRACTISE
128 Points Joined April 2011

Hi

Can a subsidiary Company advance loan to its Holding Company where there are common directors. Is it violation of section 185 of Companies Act,2013??

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On 11 April 2018 at 00:14 Report
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Miss
118 Points Joined June 2016
yes it is violation of section as this is covered in "a co in which director is interested"
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On 11 April 2018 at 02:02
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ca
22 Points Joined August 2013
No it's not violation if it's in ordinary course of business
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On 11 April 2018 at 17:21
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0 Points Joined April 2018
if holding company give loan/guarantee/security to its wholly owned subsidiary company then sec 185; is not applicable
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On 12 April 2018 at 08:00
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0 Points Joined April 2018
so in this it was violation of sec 185 of the companies act 2013
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On 12 April 2018 at 08:01

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