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Section 185 violation?

Others 460 views 4 replies

CA ANU RAO

CA IN PRACTISE

128 Points Posted on 11 April 2018

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??

Replies (4)

divya

Miss

118 Points Posted on 11 April 2018

yes it is violation of section as this is covered in "a co in which director is interested"

darshan

ca

22 Points Posted on 11 April 2018

No it's not violation if it's in ordinary course of business

Chetna Chhipa

0 Points Posted on 12 April 2018

if holding company give loan/guarantee/security to its wholly owned subsidiary company then sec 185; is not applicable

Chetna Chhipa

0 Points Posted on 12 April 2018

so in this it was violation of sec 185 of the companies act 2013

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