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As per Section 185 (1) Explanation to clause (c) i.e. for IFSC Private Limited /Public Limited Co, it states that "the expression “to any other person in whom director is interested” means- (c) any private company of which any such director is a director or member in which director of the lending company do not have direct or indirect shareholding through themselves or through their relatives and a special resolution is passed to this effect;”. Now what is the exact impact of such amendment as introduced for IFSC Companies. Why a special resolution is required.

Section 185- Loan to directors, etc.

Posted By: Amit popli 7 year(s) ago

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Shivam Singhal

In my view, section 185 would not apply in case of Specified IFSC public/ private companies if directors of the said company do not have direct or indirect shareholding and special resolution is passed to that effect. please note that this is personal view of the undersigned given from academic point of views only.

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