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There are outstanding amounts of unsecured loans out of the agreements prior to 12/09/2013, in a private limited company. Can it continue? Further, the agreement cites an upper limit which can be extended in one or more trench. If the upper limit of the amount is not reached, can it extend the loan, though it falls under the purview of 185.

Section 185- Loan to directors, etc.

Posted By: Sandhya 10 year(s) ago

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


Expert    Ankit Singhi

The outstanding amount can continue but any further amount will have to comply with the provisions of the Act.

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