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The issue is : one private Limited company say A gives loan to another Private Limited company say B. Both this company have no common Director or shareholder, but the Directors of the One company is relative of others and further B is the shareholder of A limited ( Not to the extent of associate company). Now is A private Limited is giving loan to B Private Limited my opinion 1. A Private limited and B Private Limited is not related party. ( sec (2) (76) 2. Section 185- not applicable. ( as Director of one company is not Director or member in other company.) 3. Section 184(2) not applicable ( same logic as above) 4. Section 188 is not applicable ( as not related party) 5. and thus not cover u/s 189 thus transaction is not required to report in CARO for loan granted to parties listed in 189 it may coverunder u/s 186 as far as other provision is concern. please give ur expert opinion on the matter.

Section 185- Loan to directors, etc.

Posted By: Cs ram thakkar 9 year(s) ago

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


Expert    Ankit Singhi

It not falls u/s 2(76). Further, Company only needs to comply with the provision of sec 186 of the Act,.

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