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Section 185 says: No company can give loan to directors/person interested in directors including loan by way of book debt. So if one want to sell goods on credit to other private limited company (the directors and some shareholders are same) then is it possible under new Act ? Section 188: Related Party transaction is also related to same as it says : Company can enter in to any contract to sell goods or services to related prices with the Board Resolution (in some cases with special resolution) and this permission only to be taken when price is not arm length price. So section 188 permits company to sell goods (on cash/credit) to related party subject to Board/Special Resolution. Is this both section conflicting ? Kindly give views/replies on this.

Section 185- Loan to directors, etc.

Posted By: Karan bhatt 11 year(s) ago

This question has been closed if you want to answer,you have to re-open.


    SHILPESH DALAL

As per my opinion, section 185 starts using the phrase "Save as otherwise provided in this Act"

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