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V.S. Datey on Companies Act, 2013
  • INTER CORPORATE LOANS

    by GIRISH on Monday, May 07, 2018 at 06:05 PM

    ONE PRIVATE LIMITED COMPANY CANNOT GIVE LOAN TO ANOTHER PRIVATE LIMITED COMPANY AS THE DIRECTORS OF THE COMPANIES ARE SAME. THE DIRECTORS DO NOT HOLD ANY SHARES IN THE COMPANIES. THEY ARE HIT BY SECTION 185 OF THE ACT AS THE LENDING COMPANY CANNOT GIVE LOAN TO BORROWER COMPANY AS ITS DIRECTORS ARE THE DIRECTORS OF THE BORROWER COMPANY ALSO. IS IT CORRECT? THE NEW SECTION 185 HAS NOT BEEN NOTIFIED YET.

    Replied byV.S. Datey Wednesday, May 09, 2018 at 04:18 PM

    new section 185 has been notified on 7-5-2018 V S Datey

 
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