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What does the omission of Rule 10 of Company (Meeting of Board and its Power) Second Amendment Rules, 2015 issued on 14 th dec. 2015 means? Is the exemption over which was enjoyed by Holding and its WOS companies. Pls clarify

Section 185- Loan to directors, etc.

Posted By: T.r.chadha & co. 9 year(s) ago

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Shivam Singhal

Points of rule No. 10 of Companies (Meeting of Board and its power), 2014 had inserted in section 185 after Companies amendment act, 2015 on 26th may, 2015. so, now this points deleted (omitted) from rule after Company (Meeting of Board and its Power) Second Amendment Rules, 2015 issued on 14th december, 2015.

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Expert Ankit Singhi

the provisions provided in the rule had been the part of section 185 by way of amendment. The omission is remove the duplication

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Pramod Prabhudesai
B D Jokhakar & Co

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