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Even as per recent Circular No. 18/2013 dated 19-11-2013, the Ministry of Corporate Affairs has issued a clarification with regard to applicability of provision of Section 372A of the Companies Act, 1956 on account of number of representations received consequent upon notifying Section 185 of the Companies Act, 2013 dealing with loans to directors which is corresponding to Section 295 of the Companies Act, 1956. It was candidly clarified in the said Circular that Section 372A of the Companies Act, 1956 dealing with inter-corporate loans continue to remain in force till Section 186, of the Companies Act, 2013 is notified.What is the position now as section 186 already notified?

Section 186- Loan and investment by company.

Posted By: Kamlesh 10 year(s) ago

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


Expert    Ankit Singhi

Now section 372A stands repealed

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